Betting News 
Maryland sports betting achieved a significant milestone in August 2024, surpassing $100 million in total sports betting tax revenue since the state’s first retail sportsbook opened in December 2021. The state’s August 2024 sports betting tax revenue totaled $5.5 million, which will help fund public education programs.
August Numbers Reflect Significant Growth
Maryland Lottery and Gaming reported a sports betting handle of $377.4 million in August 2024, an increase of 43.1% compared to August 2023 when the handle was $263.7 million. This growth is particularly impressive considering the number of operators remained relatively stable, with 11 online sports betting operators and 12 retail sportsbooks in August 2024 compared to 12 online and 12 retail operators the previous year.
The state’s tax revenue from sports betting in August more than doubled year-over-year, rising from $2.5 million in August 2023 to $5.58 million in August 2024. However, August’s tax revenue totals fell just short of July’s record of $6.2 million.
Online vs. Retail Sports Betting Performance
Online sports betting continues to dominate the Maryland market, with $368.4 million in online handle, compared to $8.9 million wagered at retail sportsbooks. The gaming commission also reported $39.25 million in gaming revenues for the month, representing a 10.4% hold.
FanDuel Leads the Market
FanDuel maintained its lead in the Maryland market, reporting $160.7 million in online sports bets for August 2024, far outpacing DraftKings, which reported $119.3 million. BetMGM followed with $32.17 million in handle, rounding out the top three operators in the state.
Veterans Services, a newer operator in Maryland, reported a modest handle of just over $322,000 for the month.
August 2024 Online Sports Betting Handle and Tax Revenue
Here’s a breakdown of the online sports betting handle and tax revenue for August 2024:
- FanDuel: $160,710,086 in handle, $2,688,115 in tax revenue
- DraftKings: $119,282,448 in handle, $1,835,717 in tax revenue
- BetMGM: $32,179,803 in handle, $479,757 in tax revenue
- Fanatics Sportsbook: $15,973,788 in handle, $45,340 in tax revenue
- Caesars Sportsbook: $19,191,556 in handle, $146,133 in tax revenue
- ESPN BET: $11,924,913 in handle, $130,159 in tax revenue
- Bingo World (BetRivers): $5,671,306 in handle, $61,925 in tax revenue
- Greenmount (betPARX): $768,176 in handle, $9,896 in tax revenue
- Crab Sports: $764,659 in handle, $4,328 in tax revenue
- Bally’s: $1,611,757 in handle, $5,268 in tax revenue
- Veterans Services (Bee-Fee): $322,448 in handle, $1,115 in tax revenue
- Long Shots: $0 in handle, $0 in tax revenue
- Riverboat on the Potomac: $0 in handle, $0 in tax revenue
- SuperBook: $0 in handle, $0 in tax revenue
Maryland’s Path Forward
With Maryland surpassing the $100 million mark in sports betting tax revenue, the state is poised for further growth as it enters the highly profitable football season. The significant rise in August handle and tax revenue underscores the state’s increasing role in the US sports betting market.
