HomeMaryland Sports Betting NewsMaryland Sports Betting Generates $441 Million In January Handle

Maryland Sports Betting Generates $441 Million In January Handle

New numbers show that Maryland Sports bettors wagered $441.5 million in bets during January.

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Maryland sportsbook operators are excited about the future of sports betting in Old Line State. The Maryland Lottery and Gaming Control Agency reported $441.5 million in sports betting handle from the state’s 10 retail stores and seven online sportsbooks.

Maryland sportsbook operators have now taken in $1,087,012,775.53 in handle since the sportsbooks began taking legal wagers in November 2022.

FanDuel Leads the Online Handle

Maryland sports bettors wagered $422.6 million through the eight licensed online sportsbooks during January. FanDuel led the seven online sportsbooks, generating $208.8 million in wagers. FanDuel paid $175.1 million in winnings for a 16.7% hold. $10.2 million were free or promotional bets and aren’t taxable for one year.

  • DraftKings $131.9 million
  • BetMGM $40.7 million
  • Caesar’s $19.9 million
  • Barstool $12.5 million
  • PointsBet $5.7 million
  • BetRivers $2.8 million

MGM Tops in Retail Sports Betting Handle

The 10 retail sportsbook operators handled $18.7 million in Old Line State wagers during January. BetMGM led the way with $7.3 million taken at the MGM National Harbor casino–the state’s retail sports betting leader doled out $6.4 million in winnings for a taxable win of $887, 520.93. The other nine sportsbook retailers ranked in order by January handle.

  • Live! Casino (FanDuel) $6.05 million
  • Horseshoe Casino (Caesars) $2.1 million
  • Oceans Down Casino (TwinSpires) $1.2 million
  • Hollywood Casino (Barstool) $944, 477.35
  • Bingo World (BetRivers) $519, 201.06
  • Long Shot’s (BetFred) $202,743.06
  • Greenmount OTB (Parx) $185,353.33
  • Maryland Stadium Sub (Fanatics) $140,605.54
  • Riverboat on the Potomac (PointsBet) $124,993.05

Reasons to be Optimistic

Sportsbook operators have taken in over a billion in handle during the first two months of legalized sports betting. Still, the books are looking forward to the following spring sporting events.

MLB Spring Training and Regular Season

The Baltimore Orioles and Washington Nationals report to spring training later this week. The Orioles train in Sarasota, Florida, and are set to report on February 15 with their first Grapefruit League action on the 25th with a home matchup against the Minnesota Twins.

The Nationals are in West Palm Beach, Florida, with pitchers and catchers reporting on the 15th with their Grapefruit League opener set for the 26th against the Houston Astros.

The MLB regular season begins March 30, and Maryland bettors will have an enjoyable summer betting season wagering on the Orioles and Nationals.

March Madness

The Maryland Terrapins and Maryland Eastern Shore look like they’ll make it to the Big Dance when the March Madness season officially tips off February 26th with the conference tournaments and culmination with the April 3 National Championship game.

Maryland is 17-8 this season and 8th in the Big Ten Standings. They have a tough one Thursday night when the host No. 1 ranked Purdue, but the Terrapins should find themselves in the NCAA Tournament when it begins Tuesday, March 14.

Maryland Eastern Shore is a game behind in the Mid-Eastern Athletic Conference standings, but that could change when they visit 1st-place Howard University this Monday. The Hawks will need to either win the conference or the Mid-Eastern Athletic Conference tournament to qualify for the NCAA Tournament, and their conference tourney begins March 8.

NBA Playoffs

If the NBA playoffs were to begin today, the Washington Wizards would be the 9th seed in the Eastern Conference and would qualify for the play-in game. Washington is one of the hottest teams heading into the NBA All-Star break and should find their way into the NBA playoffs when they begin on April 15.

NHL Playoffs

The Washington Capitals are 7th in the NHL Eastern Conference. Maryland sports bettors will have several Capitals playoff games to wager on as Washington is expected to make a deep playoff run. The Caps host Carolina Hurricanes on Tuesday night, followed by a game at Capital One Arena Thursday night vs. Florida Panthers before facing the Hurricanes in Carolina on Saturday night.