- The sports betting market in Maryland generated over $88 million in tax revenues for the fiscal year 2025.
- Tax revenues from sports betting in Maryland rose by almost 50% compared to the previous year.
- Bettors in Maryland placed wagers exceeding $6.2 billion in the recent fiscal year.
The sports betting industry in Maryland saw growth in both handle and tax revenues in fiscal year 2025, as reported by Maryland Lottery and Gaming.
Representatives from Maryland Lottery and Gaming announced nearly $89 million in sports betting tax revenues for fiscal year 2025, marking a 47.4% rise from the previous fiscal year.
Users engaged in Maryland sports betting wagered over $6.2 billion in combined online and retail sports betting this fiscal year.
Year-Over-Year Sports Betting Growth
According to Maryland Lottery and Gaming, the market showed a 47.4% year-over-year growth, with $88,923,572 in tax revenues from July 2024 to June 2025, compared to $60,311,456 in fiscal year 2024.
The reported hold was 11.2% for the full fiscal year, up from 10.6% in fiscal year 2024.
The handle also increased year-over-year, as customers wagered $6,218,831,404 in fiscal year 2025, compared with $5,374,116,452 previously.
Spectators surprisingly favored betting on professional basketball last fiscal year, contributing $1,063,328,227 in total handle, surpassing professional football’s $588.23 million.
Maryland bettors placed over $2.3 billion on parlays, the most favored bet type in the state. A 20.3% hold on parlay bets made it the most profitable market.
June First Month With New Tax Rate
In June, the state concluded its fiscal year with $9,226,682 in sports betting tax revenue. This month marked the first implementation of the new 20% tax rate, raised from 15% in Maryland’s revised budget.
Bettors in Maryland wagered $403,841,872 during June, with operators reporting a 14.1% hold rate.
Gov. Wes Moore (D), Senate President Bill Ferguson (D-46), and House Speaker Adrienne A. Jones (D-10) proposed a $67.3 billion budget for 2026 in March, featuring agreed-upon cuts of almost $2.3 billion and more than $1 billion in new revenues.
Initially, Moore suggested raising Maryland’s sports betting tax rate to 32% in January, but lawmakers compromised on a 20% rate. Moore signed the budget into law in late May.
Below are the online sports betting handle and tax revenue figures for March:
- Bally’s: $1,738,656.98 in handle, $23,248 in tax revenue
- BetMGM: $37,144,775.56 in handle, $904,545 in tax revenue
- Bingo World (BetRivers): $7,118,060 in handle, $127,233 in tax revenue
- Caesars Sportsbook: $16,994,686 in handle, $323,374 in tax revenue
- Crab Sports: $485,187 in handle, $14,440 in tax revenue
- DraftKings: $131,767,232 in handle, $2,415,
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com