Maryland and North Carolina sportsbooks started 2026 the same way they ended 2025: Posting strong double-digit holds that led to eight-figure operator tax remittances to the state.
Maryland Lottery and Gaming Tuesday reported $76.7 million in gross sports betting revenue as operators crafted a 12.5% hold against $615.8 million handle. Their North Carolina counterparts piled up $80.3 million in winnings, landing an 11.7% win rate from $686.9 million worth of accepted wagers.
It was the 10th consecutive month Maryland sportsbooks had a collective hold of 9.8% or better while Tar Heel State operators topped 9.5% for the sixth straight month.
Maryland was able to levy its 20% tax on $54.9 million in adjustable gross revenue, leading to an inflow of $10.9 million to state coffers. North Carolina, which does not allow operators any promotional deductions, collected close to $14.5 million in receipts based on its 18% rate.
FanDuel shows off deep pockets in MD
Despite an 18.9% overall year-over-year decline in total promotional spend to $20.3 million, FanDuel again used January as a month to aggressively court bettors in Maryland.
It accounted for more than half the total operator spend with $11.4 million in credits and bonuses. That was down 18.7% from its $14 million outlay to start 2025 but also marked the third straight January it reached eight figures in Maryland.
The digital juggernaut maintained the status quo as the Old Line State’s top operator despite year-over-year declines across the board. FanDuel’s handle slipped 11.8% to $245.6 million, while revenue tailed off 15.7% to $36 million. It did extend its streak of double-digit holds to 10 months after posting a 14.7% win rate.
DraftKings also tightened its promotional purse strings as the $4.8 million outlay was down 26.5% from a year ago. But a 5.8% uptick in handle to $189.3 million helped offset a dip in the hold to 12.2%. The result was $23 million in gross winnings, down a mere 1.1%.
BetMGM ($1.6 million) and bet365 ($1.4 million) were the only other operators to post a seven-figure spend as the pair bracketed Fanatics to complete the top five. BetMGM claimed $4.2 million from $45.9 million worth of wagers, good for a 9.1% win rate.
Bet365 posted a 10.8% hold in keeping $3.5 million of its $32.1 million worth of accepted wagers. Fanatics did not report any promotional deductions as it pipped BetMGM for the final revenue podium spot with $4.7 million on the strength of an 11.5% hold on $40.7 million handle.
Caesars ($2.2 million) and theScore Bet ($1 million) were the other mobile operators to start the year with a seven-figure revenue haul. Caesars’ revenue was practically flat compared to January 2025, staying afloat with a 9.4% hold that was two percentage points higher than last year.
The second month of operations for theScore under the Penn Entertainment banner saw sizable year-over-year dips compared to predecessor ESPN Bet. The $13.9 million handle was off 23.8%, while revenue slumped 38.7%. TheScore’s 7.2% hold for January was 1.8 percentage points lower versus 2025.
A lighter spend in Carolina country, too
North Carolina’s sportsbooks combined to offer $20.2 million in credits and bonuses for January, a decline of 14.5% from last year. It represented just under 3% of handle, roughly in line with the 3%-plus reported for the full 2025 calendar year.
The 7.8% rise in revenue outpaced the 6.2% increase in handle as North Carolina topped $80 million in operator winnings for the third consecutive month.
The Tar Heel State, which launched sports wagering in March 2024, also became the 10th state in the post-PASPA era to surpass $250 million in state tax revenue generated.
