Maryland Lottery and Gaming reported a record $651 million sports betting handle for September as operators in the Old Line State bucked an early trend of lower year-over-year results.
The previous record for handle was $639.9 million established last November, and it was the fourth time monthly wagering topped $600 million. Handle was up 22.2% compared to last year, and the $4.55 billion wagered in the calendar year is up 11.9%.
Sportsbooks finished with $73.1 million in gross revenue, good for an 11.2% hold. September marked the sixth consecutive month operators had a collective hold of 11% or higher, though it was down more than one percentage point from 12 months ago. The first eight states to report handle and revenue numbers for September have combined for a 9.1% hold, dragged down by New York’s 8.5% win rate on $2.3 billion handle.
The state was able to levy taxes on $67.9 million in adjusted gross revenue, redirecting $13.5 million into its coffers. Maryland began taxing mobile operators at 20% in June, and the $29.8 million collected the first quarter of Fiscal Year 2026 is $8.5 million ahead of last year’s pace. Maryland also became the 12th state in the post-PASPA era to surpass $200 million in tax revenue raised since launch.
Ravens’ struggles help books in football
A 1-3 start by the Baltimore Ravens, perennial Super Bowl contenders who had a challenging September schedule with Buffalo, Detroit, and Kansas City, provided a boost to operators. They collected a monthly record $10.3 million in revenue from pro football wagering, up 121.7% from last year. The 8.6% hold on $120.8 million in wagers was more than double the 4% attained in 2024 when they claimed $4.7 million.
Though parlays accounted for the bulk of operator revenue at $40.1 million, it can be argued bettors emerged relatively OK as the 17.1% hold on multi-leg wagers ended a five-month run of 20% or better for operators. It was also eight percentage points lower than September 2024, leading to a 20.2% year-over-year decline in revenue.
An unexpected source of operator revenue was pro basketball, which totaled $8.9 million with a 15.3% hold. Maryland Lottery and Gaming does not disclose handle and revenue figures by operator, but an off-season revenue figure nearly seven times higher than last year along with a more than doubling of handle to $57.3 million implies potentially large NBA futures wagers were placed.
Bet365 makes splash in first full month
England-based bet365 has shown staying power in the U.S. in most every market it enters, and Maryland was no different. Bet365 finished third among the 12 mobile books in handle at $46.7 million, and an eye-watering 24% hold gave it the final podium spot for revenue as well with $11.2 million.
FanDuel had its sixth consecutive month with a 12.7% win rate or better, reaping $32.3 million in revenue from $254.1 million worth of wagers. That figure was down slightly year-over-year, though, as the juggernaut had a 14.2% hold last year in claiming $32.9 million in winnings from $231.8 million handle.
Despite posting its second-highest handle in Maryland at $193.4 million, DraftKings revenue plunged 25.4% to $15.1 million. Its modest 7.8% hold was down nearly 3.7 percentage points versus September 2024 and lowest since a 7.2% win rate recorded in December.
BetMGM ($4.9 million) and Fanatics ($3.1 million) rounded out the top five for revenue, with the former notching an 11% win rate from $44.3 million handle and the latter landing at 7.3% from $41.6 million in accepted wagers.
ESPN Bet extended its run of double-digit holds to six months, reaching 11.3% to keep $1.6 million of the $13.8 million wagered, and Caesars rounded out the group with seven-figure revenue totals at $1.4 million. It also had the lowest hold among mobile books at 5.6%.
North Carolina flirts with $700M handle
The North Carolina State Lottery Commission reported wagering totaling $686.1 million for September, a new record that also marked its eighth month handle cleared $600 million.
The figure edged out the previous record of $685 million in March and was up 19.2% from last year. While the state’s eight mobile sportsbooks provided bettors with a year-high $32 million in promotional credits and bonuses in the usually busy month, that figure was down 13.7% from September 2024.
The percentage of handle originating from promotional spend for the month dropped from 6.4% last year to 4.7% in 2025. The $98 million combined outlay from April through September was down 48.3% from the first six months following the March 2024 launch.
The state agency reported $66.8 million in revenue as operators had a collective 9.7% hold. Winnings were down 4.7% compared to last year as the hold was 2.5 percentage points lower. North Carolina coffers saw an inflow of $12 million for September and reported $25.8 million in receipts for the first quarter of Fiscal Year 2026. That was down by nearly $447,000 versus Q1 of FY 2025.
The North Carolina State Lottery Commission does not publish handle and figures for operators.
