Maryland Sports Betting Sees Nearly 50% Tax Revenue Increase in FY 2025

• Maryland’s sports betting market brought in more than $88 million in tax revenues in fiscal year 2025
• Compared with the previous fiscal year, Maryland’s sports betting tax revenues increased by nearly 50%
• Maryland sports betting customers wagered more than $6.2 billion this past fiscal year

Maryland’s sports betting market experienced year-over-year growth in both handle and tax revenues for fiscal year 2025, according to Maryland Lottery and Gaming totals.

Maryland Lottery and Gaming representatives reported nearly $89 million in sports betting tax revenues for fiscal year 2025, a 47.4% increase in revenues compared with the previous fiscal year.

Maryland sports betting users wagered more than $6.2 billion in combined online and retail sports betting this fiscal year.

Year-Over-Year Sports Betting Growth

According to Maryland Lottery and Gaming, the market demonstrated 47.4% growth year-over year, as sports wagering contributed $88,923,572 in tax revenues from July 2024 through June 2025, compared with $60,311,456 in fiscal year 2024.

Maryland Lottery and Gaming reported an 11.2% hold for the entirety of the fiscal year, compared with a 10.6% hold in fiscal year 2024.

Handle increased year-over-year as well, as customers bet $6,218,831,404 in fiscal year 2025, compared with $5,374,116,452 in the previous fiscal year.

Surprisingly, Maryland sports bettors favored wagering on professional basketball during the previous fiscal year, totaling $1,063,328,227 in total handle. Betting on professional basketball topped betting on professional football, which totaled $588.23 million for the fiscal year.

Maryland sports bettors wagered more than $2.3 billion on parlays, by far the most popular bet type in the state. Maryland reported a whopping 20.3% hold on parlay bets for the year, by far its most profitable market.

June First Month With New Tax Rate

June concluded the state’s fiscal year with $9,226,682 in sports betting tax revenue. June was the first month to showcase the state’s new sports betting tax rate of 20%, increased from 15% in Maryland’s new budget.

Maryland sports bettors wagered $403,841,872 during June, with operators reporting a 14.1% hold rate.

Gov. Wes Moore (D), Senate President Bill Ferguson (D-46), and House Speaker Adrienne A. Jones (D-10) announced the framework for the state’s proposed $67.3 billion 2026 budget in March. The budget included agreed-upon cuts of nearly $2.3 billion and included more than $1 billion in new revenues.

However, Moore’s version of the budget he introduced in January included an ever larger increase to Maryland’s sports betting tax rate. Moore originally proposed an increase to 32% for the state’s rate.

Lawmakers settled on a 20% compromise. Moore signed the budget into law in late May.

Here are the online sports betting handle and tax revenue totals for the month of March:

• Bally’s: $1,738,656.98 in handle, $23,248 in tax revenue
• BetMGM: $37,144,775.56 in handle, $904,545 in tax revenue
• Bingo World (BetRivers): $7,118,060 in handle, $127,233 in tax revenue
• Caesars Sportsbook: $16,994,686 in handle, $323,374 in tax revenue
• Crab Sports: $485,187 in handle, $14,440 in tax revenue
• DraftKings: $131,767,232 in handle, $2,415,377 in tax revenue
• Greenmount (betPARX): $1,058,519 in handle, $15,682 in tax revenue
• ESPN BET: $10,143,554 in handle, $283,380 in tax revenue
• FanDuel: $162,963,631 in handle, $4,319,300 in tax revenue
• Long Shots: $0 in handle, $0 in tax revenue
• Fanatics Sportsbook: $26,188,626 in handle, $656,664 in tax revenue
• Riverboat on the Potomac: $0 in handle, $0 in tax revenue
• SuperBook: $0 in handle, $0 in tax revenue
• Veterans Services (Bee-Fee): $581,293 in handle, $3,029 in tax revenue