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Maryland Sports Betting Wagers Soar to New Highs in November

The Maryland Gaming Commission’s latest revenue report reveals a remarkable surge in sports betting activity during November, with licensed sportsbooks recording a staggering $550.7 million in wagers.

maryland november revenue


Record-Breaking Performance

November’s sports betting handle sets an unprecedented record in Maryland, surpassing the previous milestone established in December 2022, with wagers exceeding $497.1 million. The year-to-date sports betting handle now stands at just over $4 billion, contributing to an all-time total surpassing $5 billion.

Performance Metrics

According to the report, sportsbooks reported a hold of 7.6%. However, the adjusted win rate, factoring in promotions, experienced a decline to 3.87%, contrasting with the 8% reported in October.

Despite the record-breaking wagers, sportsbooks reported initial combined revenues of $41.6 million, a notable decrease from the $58.7 million in the preceding month but reflecting a robust 35.9% year-on-year increase. Adjusted revenues for November amounted to $21.3 million, down by 39.5% compared to the same period in 2022.

Mobile Dominance

Out of the $550.7 million wagered, a substantial $533.2 million was placed through mobile sports betting apps, constituting a remarkable 96.8% of all sports wagers for the month. This underscores the growing prominence of online sports betting in Maryland.

Tax Revenues and Financial Impact

In November, the state collected $3.1 million in tax revenues from sports betting activities. The year-to-date tax revenue for sports betting in Maryland now stands at $39.6 million, contributing to an all-time total of $46.2 million.

Operational Landscape

As of the end of November 2023, Maryland boasted 13 retail sportsbooks and 12 active mobile sports betting operators, underscoring the robust and expanding sports betting landscape in the state.

Jan 2023$441,481,779$422,657,954$59,601,405$14,097,423$2,114,613
Feb 2023$339,421,456$325,078,708$40,214,645$18,645,869$2,796,880
Mar 2023$385,967,195$370,290,622$47,548,313$35,400,380$5,310,057
Apr 2023$328,454,397$313,472,676$35,644,586$25,764,571$3,864,686
May 2023$320,199,671$305,063,591$42,742,217$31,004,743$4,650,711
Jun 2023$254,476,790$243,817,173$27,077,118$18,900,337$2,835,051
Jul 2023$247,412,348$237,525,908$28,114,521$22,084,219$3,312,633
Aug 2023$263,729,559$250,360,244$24,900,637$17,037,804$2,555,671
Sep 2023$442,450,666$420,957,789$45,575,924$21,542,849$3,231,427
Oct 2023$483,147,391$463,502,423$58,701,910$38,748,301$5,812,245
Nov 2023$550,716,329$533,276,787$41,628,982$21,330,194$3,199,529

About the Author


Arthur Minyard, a 27-year-old sports writer and devoted Yankees fan thriving in the heartbeat of New York City. Armed with a degree in Journalism from a prestigious NYC university, Minyard crafts compelling narratives that transcend the scoresheet, capturing the essence of baseball with insightful analysis and a deep understanding of the game. When not dissecting pivotal plays or exploring the rich history of the Yankees, he can be found in local coffee shops, sketching out ideas for his next piece or engrossed in a classic novel.

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