Maryland sports wagering handle surpasses $475m during February 2025
The figure represents an increase of 7.5% year-over-year, as Maryland sports betting managed to generate $6.4m in contributions during February 2025.
Key Points
- The increase in handle from the prior year period was primarily driven through online wagers, as retail betting’s handle for February 2025 decreased by 11.3% year-over-year
- Maryland operators’ win percentage, or hold, throughout February 2025 was reported to be 12.6%, a rise on the 9.8% seen during the prior year period
Maryland Lottery and Gaming has released the state’s sports wagering results throughout February 2025, including a 7.5% increase year-over-year in handle for a reported total of $475.7m.
The figure was primarily driven by the $463.2m of handle generated by online wagers, representing an increase of 8.1% from the prior year period. Retail wagering decreased by 11.3% year-over-year during February 2025, generating a sports betting handle of $12.5m.
Bettors in Maryland took home $415.7m in winnings during the period, creating a win percentage, or hold, of 12.6% for operators throughout February 2025. In comparison, operators’ hold throughout February 2024 was reported to be 9.8%, when Maryland players were awarded $399.1m during the period.
With a sports wagering tax of 15% in Maryland, operators contributed nearly $6.4m to the state’s Future Fund and Problem Gambling Fund during February 2025. The funds have seen total contributions of more than $149.6m and $3.7m, respectively, since sports wagering was legalized during December 2021.
Good to know: Maryland Lottery and Gaming released the state’s casino revenue throughout February 2025 on March 5, reported to be $155.2m during the month, representing a decrease of 2.6% from the prior year period
Maryland had 11 mobile sports wagering platforms and 13 retail sportsbook locations that operated during February 2025, but The Greene Turtle/betParx retail sportsbook in Towson ceased operations on February 9, leaving 12 retail locations currently active.
According to Maryland Lottery and Gaming, the approximate $61.2m in contributions sports betting has generated throughout the first eight months of fiscal year (FY) 2025 is already greater than that of the figure reported during the entirety of FY2024 – $60.3m.
The $6.4m in contributions during February 2025 represents an increase of 50.8%, nearly $6.3m of which was generated by online wagering.
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