Maryland Sportsbooks Record Impressive Financial Figures in September
Maryland's foray into the world of sports betting has been a successful one, with the launch of mobile sports betting apps officially commencing on November 23, 2022, following voter approval and legislation. As of mid-2025, mobile sportsbooks are fully operational and legal in Maryland, offering a comprehensive range of betting options to bettors across the state.
Key developments in Maryland's sports betting market include the launch timeline, the number of operators, recent legislative changes, and the current market status. Seven sportsbooks soft-launched in November 2022, with full mobile betting officially commencing on November 23, 2022[1]. By mid-2023, Maryland had at least 10 mobile sportsbooks live, and as of 2025, 15 online sportsbooks are operational[1][4].
In May 2025, Maryland Governor Wes Moore signed a bill increasing the tax rate on mobile sportsbook operators from 15% to 20%, a move that may impact promotional offers going forward[1][4]. Despite this tax hike, Maryland sportsbooks have continued to generate significant revenue. In May 2025, the state reported a profit of $59.2 million on a $513.7 million handle[1].
The sportsbooks provide strong mobile app experiences with high customer ratings and various welcome offers. However, upcoming regulatory changes might reduce the frequency or size of sportsbook promotions[2][4]. Notable operators like bet365 have applied for licenses but have not yet launched in Maryland, with an anticipated possible launch around the start of the 2025-2026 NFL season[3].
In September 2022, the retail sportsbooks in Maryland posted a 17.6% hold, surpassing the previous month's 17.2% win rate[5]. Notable performers included Live! Casino and Hotel (FanDuel), which posted the largest handle ($12.7 million) and generated the most tax revenue ($450,000+) of any of the seven retail sportsbooks in September[5]. Horseshoe Casino reported gross revenue of $1 million in September, while Bingo World (BetRivers) reported a handle of about $700,000 and a hold of 25.1%, resulting in gross revenue of $175,865[5].
Interestingly, Riverboat on the Potomac (PointsBet) reported a handle of just under $18,000 in its first weeks of operation and a hold of 46.5%[5]. The launch of mobile sportsbooks in Maryland could potentially generate additional tax revenue, further boosting the state's coffers.
In summary, Maryland has a mature and growing mobile sportsbook market with numerous licensed operators actively serving bettors on mobile platforms. Recent tax hikes and potential regulatory changes could affect the promotional environment soon, making it an exciting time to watch the evolution of this dynamic market.
References: [1] Gambling.com (2025). Maryland Sports Betting Market Review 2025. Retrieved from https://www.gambling.com/us/sports-betting/maryland/ [2] Sports Handle (2025). Maryland Sports Betting Apps: A Comprehensive Guide. Retrieved from https://sportshandle.com/maryland/maryland-sports-betting-apps/ [3] PlayMaryland (2025). Bet365 Maryland: Launch Date, Bonuses, and Promo Codes. Retrieved from https://www.playmaryland.com/sportsbook/bet365-maryland/ [4] Legal Sports Report (2025). Maryland Sports Betting: Tax Increase, New Operators, and Market Growth. Retrieved from https://www.legalsportsreport.com/maryland/maryland-sports-betting-tax-increase-new-operators-market-growth/ [5] Maryland Lottery and Gaming Control Agency (2022). September 2022 Maryland Sports Wagering Report. Retrieved from https://mlgca.maryland.gov/Documents/SportsWagering/2022-09-Sports-Wagering-Report.pdf
- The launch of mobile sports betting apps in Maryland, following voter approval and legislation, marked the beginning of a successful foray into the sports betting market.
- As of mid-2025, Maryland has 15 operational online sportsbooks, offering a variety of betting options to sports bettors across the state.
- In May 2025, Maryland Governor Wes Moore signed a bill increasing the tax rate on mobile sportsbook operators, which may influence promotional offers going forward.
- Notable sportsbooks in Maryland, like FanDuel at Live! Casino and Hotel, have shown strong performances, contributing significantly to Maryland's tax revenue.
