Maryland sports handle hits $43.4 million

Sports Betting

Maryland Lottery and Gaming reported $43.4 million in gross sports betting revenue for February on Monday as operators failed to notch a double-digit hold for just the third time in 16 months since sports betting apps have been available in the Old Line State.

Sports betting revenue in Maryland is exceeding initial projections with the latest data. “The numbers we’re seeing over the last six to 12 months reflect the maturation of the market.

Initial projects were that sports wagering would generate $25 million to $30 million annually for the state as the market was ramping up,” said Maryland Lottery and Gaming director John Martin. “We’ve now had more than a year of mobile wagering, and we expect the annual contribution to settle at more than $40 million.”