Maryland Sports Betting Hits Record $535.4M Handle in May

Maryland sports betting reached a record $535.4 million in wagers during May, marking a 6.14% increase from the previous year. The milestone represents continued growth for the state’s sports wagering market, which has expanded 24% over the past two years from $431.5 million in May 2024. Operators generated $49.6 million in gross gaming revenue at a 12.30% hold, producing $9.9 million in tax collections under the state’s 15% rate, up 27.8% year over year. Mobile platforms dominated activity, accounting for 98.28% of total handle, further cementing digital channels as the primary driver of Maryland sports betting performance.

Maryland Sports Betting Reaches $535.4M Record Handle

The state’s sports wagering market posted $535,415,353 in total handle for May 2026, representing a precise 6.1% increase from $504,448,190 recorded in May 2025. Operators distributed $14,887,956 in promotional credits during the month, while the state collected $9,899,004 in tax contributions.

Maryland’s fiscal year 2026 performance through May demonstrated sustained momentum, generating $6,388,189,501 in cumulative handle, up 9.9% from $5,814,989,534 during the same period in fiscal year 2025. Tax collections for the eleven-month period reached $124,695,286, marking a 56.5% surge from $79,696,891 in the prior fiscal year.

May’s handle represented a decline from recent months, following March’s $604.70 million peak and April’s $574.20 million. The March figure, driven by tournament basketball and spring sports, ranked Maryland ninth nationally in sports wagering volume. April maintained elevated activity on account of the Masters tournament and ongoing NBA and NHL playoff action, producing $9.14 million in state taxes.

The hold percentage of 12.30% in May reflected operator performance on the total wagering volume, contributing to stable revenue generation despite monthly fluctuations in betting activity across major sporting events.

Mobile Wagering Drives Market Dominance

Mobile platforms captured 98% of all betting activity in Maryland, reinforcing the structural shift that has defined the market since online wagering launched on November 23, 2022. Of the $615.80 million wagered in January 2026, mobile sportsbooks accounted for $604.70 million compared to just $11.10 million from retail locations.

The tax structure reflects this channel disparity. Mobile operators face a 20% tax rate, while retail sportsbooks pay 15%. The state increased the contribution rate for mobile operators from 15% to 20% beginning in June 2025, generating additional revenue from the dominant wagering channel.

Hold rates also demonstrated performance differences between channels. Retail sportsbooks posted an 8.5% hold in January, while mobile operators achieved 12.5%, aligning with national trends in digital betting efficiency. The higher mobile hold rate stems from platform advantages in offering diverse betting markets, live wagering options, and optimized user interfaces that encourage sustained engagement.

Maryland’s competitive operator landscape features eleven mobile sportsbooks, providing residents access to licensed platforms from any location within state boundaries at any hour. Revenue contributions fund the Blueprint for Maryland’s Future Fund, supporting education and public programs.

Revenue Performance and Tax Collections Stabilize

Operators posted $49.6 million in gross gaming revenue during May, maintaining a 12.30% hold percentage that demonstrated consistent performance across the betting calendar. State tax collections reached $9.9 million under the 15% rate, marking a 27.8% increase from May 2025’s $7.75 million. This growth in tax revenue outpaced handle expansion, reflecting improved operator efficiency and favorable betting outcomes.

By comparison, April 2026 generated $62.10 million in revenue on a $566.10 million handle, representing a 5.6% year-over-year revenue increase with an 11% hold rate. The variance between April and May hold percentages illustrates normal monthly fluctuations based on sporting event outcomes and bettor behavior patterns.

Through eleven months of fiscal year 2026, sports wagering returned $124,695,286 to state coffers, up 56.5% from $79,696,891 during the same period in fiscal year 2025. These contributions fund specific state programs: the Blueprint for Maryland’s Future Fund received $271.36 million cumulatively since market inception, the General Fund collected $30.71 million, and the Maryland Problem Gambling Fund accumulated $5.58 million from expired prizes.