Maryland Sets Record In November With $551 Million Wagered On Sports

Written By T.J. McBride on December 11, 2023
Photo of Parlay and Bet on two pieces of wood on a story on how Maryland bettors wagered the most money on parlays in November.

Maryland sports betting continued breaking records in November after a record-breaking month of October.

November saw the highest single month of total sports wagering handle in state history with $550.7 million. It was 14% higher than the $483.1 million bet in October.

Tax revenue from betting, however, fell off significantly month over month. Around $5.8 million was paid to the state in October, which set the record for the highest tax contribution in a single month. It fell to $3.2 million in November, nearly 45% worse.

Live! Casino leads the way in mobile sports wagering

There are 13 retail sportsbooks and another 12 mobile operators that make up the Maryland sports betting market. Despite a higher number of retail sportsbooks, mobile wagers vastly outpace in-person sports betting.

There was $533.3 million bet online in November, but just $17.4 million at a retail sportsbook. Promotional plays for mobile sports wagering in November totaled $28.6 million, which was 60.8% higher than the total amount of retail wagers.

Live! Casino took in $241.7 million of online wagers, which was 45% of the Maryland mobile handle in November. Players won $222.9 million, which equated to a hold percentage of 7.8%. After $6.6 million of promotional plays and another $587,733 of other deductions, Live! Casino generated $11.6 million of taxable winnings from its mobile sportsbook.

The only other operator to exceed $100 million in mobile sports wagers was DraftKings, which took in $165.9 million. Players won $152.5 million, a hold percentage of 8.1%. After taking into account $5.6 million of promotional plays and $400,590 of other deductions, DraftKings generated $7.3 million in taxable win.

Between Live! and DraftKings, over $407.5 million of wagers were placed, which represented 76.4% of the statewide mobile handle in November. Additionally, the $18.9 million of revenue generated by the two mobile operators was 93.1% of the state total.

MGM National Harbor takes the top spot for retail sports wagering in November

Retail sports betting has a much lesser impact across Maryland. Between all 13 operators, less than $1 million of total taxable win was generated. Just $980,134 was made by retail sportsbooks in November from $17.4 million of wagers placed.

MGM National Harbor led the pack in retail sports wagering as it usually does. Nearly $5.8 million was bet on sports in person, which was 33.3% of the state total. That meant MGM National Harbor also led in prizes paid out to its players. Players took back $5.3 million in November, with a hold percentage of 7.5%.

Live! Casino took in $4.1 million in retail sports bets. Its players walked away with $4 million of winnings, leaving Live! Casino with a small hold percentage of 3.8%. After the month was over, Live! Casino took home $130,011 of taxable winnings.

Professional basketball the most wagered-on sport in November

Normally as fall turns into winter, football is the breadwinner for sports betting. But in November, it was not football that saw the most betting action in Maryland. It was professional basketball.

Well, to be fair, parlay bets with $200.9 million wagered and led to $174.9 million of winnings for bettors. That led to operators taking a strong hold percentage of 13% which equated to $26 million of revenue.

For individual sports, basketball led the way with $84.2 million of handle. Those who bet on pro basketball won $80.8 million, leaving $3.4 million of winnings for sports betting operators and a hold percentage of 4.1%.

Pro football was still a close second-place finisher for individual sports with $82.4 million of bets placed. From that total, $77.1 million was paid out, leaving $5.3 million of revenue for operators and a hold percentage of 6.5%.

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T.J. McBride

T.J. McBride is a writer and reporter based in Denver, Colorado who covers the Denver Nuggets as a beat writer. His byline can be found across many websites such as ESPN, FiveThirtyEight, Bleacher Report, and others.

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