Maryland’s sports wagering industry saw a significant upturn in January, with a 23.4% year-on-year increase bringing in $545 million in revenue. This figure marked a distinct improvement from the previous year’s $441.5 million. Taxable win for the month amounted to $55 million, contributing $8.2 million to the state’s earnings.

The hold in January was 14.7%, a 1.2% increase from the previous year, while prizes paid to players totalled $465 million, signifying a 21.8% jump year-on-year. The state’s sports betting handle for its 2024 fiscal year reached $3.1 trillion, which represented a substantial 144.9% surge from the prior year.

Maryland Lottery and Gaming Director, John Martin, attributed the successful revenue figures to the NFL playoffs, underscoring the impact of the sports calendar on the state’s sports wagering success.

FanDuel emerged as the leader in Maryland’s sports betting market for January, both in terms of online and retail sports wagering. Live! Casino Hotel and FanDuel recorded a handle of $244.6 million for online sports wagering, with DraftKings following closely behind with $154 million. BetMGM and Caesars secured third and fourth place in terms of handle.

In the retail sector, Live! Casino Hotel and FanDuel maintained their position at the forefront, reporting a handle of $3.5 million. However, retail only accounted for $17.2 million in revenue, a mere 3.3% of the total, indicating the continued dominance of the online market.

Since the launch of online sports betting in November 2022, Maryland has consistently experienced strong revenue growth in its sports betting industry. In December, the state set a new sports betting handle record for the second consecutive month, with total wagers amounting to $559.9 million. The online casino sector also performed well, with revenues in December reaching $165.6 million, a 5% increase from the previous month.

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