June produced an expected drop in Maryland sports betting volume from fewer sporting events, but the state’s sportsbooks still had a relatively strong month.
Maryland sportsbooks accepted $345 million in June wagers and had $39.7 million in revenue (10.3% hold). Nearly all that – $38.2 million – was taxable, resulting in a $5.7 million state contribution.
The monthly handle dropped 20% from May’s $431.5 million but grew by 35.8% from June 2023’s $254 million. Revenue dropped 23.3% from May’s $51.1 million (11.8% hold) and grew by 46.5% from June 2023’s $27.1 million (10.6% hold).
FanDuel maintains its edge; ESPN Bet slips
Sports wagering has been legal in the Old Line State since May 2021 but did not begin to take off until Maryland sports betting apps launched in November 2022. Mobile wagers accounted for $373.4 million in June, or 97% of the state’s handle.
FanDuel Maryland led the action with a $162.7 million handle, good for 43.6% of June’s wagers. FanDuel has established the top spot in Maryland, consistently outperforming its closest competitor, DraftKings Maryland. DraftKings had a $128.1 million handle, amassing a 34.3% market share.
Nobody else came close to the top two, with four operators posting eight-figure June handles. BetMGM Maryland ($28.7 million) finished in third, followed by Caesars Sportsbook Maryland ($19.8 million).
ESPN Bet Maryland finished fifth for the second month after posting the third-highest total in April. Its $13.3 million handle was less than half of BetMGM’s and just ahead of Fanatics Sportsbook Maryland ($12 million).
The remaining five sportsbook operators failed to reach $10 million in combined betting volume:
- BetRivers Sportsbook Maryland: $5.3 million
- betPARX: $2.1 million
- Crab Sports: $560,000
- SuperBook: $454,000
- Betfred Sportsbook: $406,000
Parlays, baseball carry the load
The popularity of parlay wagers has grown steadily nationwide, including in Maryland. Parlays accounted for nearly one-third of every dollar wagered in June, totaling $127.4 million.
Only one individual sport amassed a nine-figure handle. Marylanders wagered $103.1 million on professional baseball, almost 27% of the month’s handle.
Professional basketball, which concluded in mid-June, drew $50.2 million in June wagers. Tennis ($30.8 million) and soccer ($24.2 million) also had significant wager totals.
Other sports wagering totals included:
- Golf: $6.8 million
- Ice hockey: $5.6 million
- Pro football: $720,000
- NCAA football: $218,000
- Motor sports: $217,000
- NCAA basketball: $2,000
- Other: $35.3 million
Maryland sports betting handle surpasses $5.37B in FY 2024
June marks the end of Fiscal Year 2024, the first full fiscal year of Maryland online sports betting. Maryland’s first sports betting apps launched in November 2022, providing seven-plus months of FY 2023 data.
Maryland sports betting handle totaled $5,374,116,452 for FY 2024, which ran from July 1, 2023, to June 30, 2024. The fiscal year brought $60.3 million in contributions to the Blueprint for Maryland’s Future Fund.
And monthly handle has grown (year over year) every month since November 2023, a trend that should continue throughout the rest of the calendar year.