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January was a big sports betting month for the state of Maryland. And how could it not have been given the state had two local teams in the thick of NFL playoff action.
There was the Baltimore Ravens. They lost a painstakingly close game to Buffalo — one most believe they should’ve won if not for three turnovers they committed (and a dropped pass). It was a heartbreaker, but it sure got local bettors invested in the outcome.
And then there were the Washington Commanders. Technically, they are not Maryland natives, but many locals cheer on the Washington DC team anyway since they’re a stone’s throw away from state lines anyway. Led by rookie Jayden Daniels, they were the surprise team of the NFL, making it all the way to the NFC Championship game before losing to the eventual champions, the Eagles.
Anywho, both those deep runs likely helped Maryland sports betting have one of the best months in its history. Let’s take you into the January 2025 sports betting data.
January 2025 Almost Sets An All-Time Record
You always want to start off things with a bang — don’t you? Something about a strong start that just helps create momentum that can carry you the whole year. Welp, Maryland has done that.
According to Maryland Lottery and Gaming, sports betting operators raked in $82.1 million in gross revenue — making it the third-highest monthly total since legal sports wagering launched in November 2022. Only December 2022 and November 2024 saw bigger numbers. The monthly handle reached $618.8 million, marking the third consecutive month that wagers cleared the $600 million mark.
The revenue boost wasn’t just incremental either — January’s total was up 2.6 percent year-over-year and surged by a massive 79.9 percent from December 2024. The latter is somewhat shocking. Yes, the Commanders and Ravens help but December had every single NFL team in action for a whole month. The betting choices were significantly smaller in January.
Then again, the betting numbers got some help elsewhere besides just the two local NFL teams. The College Football Playoff also had more games than usual thanks to expanding to 12 teams. Bettors might’ve had fewer betting options over the month, but what they did get were marquee matchups.
Furthermore, operators posted a remarkable 13.3 percent hold rate — the highest since January 2024’s 14.7 percent win rate —showing a gain of more than six percentage points from December. Notably, seven of Maryland’s 11 legal online operators posted double-digit holds, highlighting strong performance across the board OR just maybe, many bettors blindly bet on the local NFL teams only for them to lose. Who knows, but bettors struggled to win this month.
Of the money collected from bettors, Maryland sportsbooks contributed $8.2 million in taxes to support key state initiatives, including the Blueprint for Maryland’s Future Fund, which benefits education, and the Problem Gambling Fund. We suppose the kids in the school system getting the extra funding were the biggest winners here.
NBA Played Its Part Too
Football might get more dollars on a per-game basis, but not overall — not when the NBA plays so many damn games. Get this, for the month of January, the NBA lead all sports with $122 million in wagers. A 6.2 percent hold delivered nearly $7.6 million in revenue, highlighting the league’s strong betting appeal. College basketball didn’t fare bad with $40.5 million in handle of its own and $2.1 million in profits, thanks to a 5.3-percent win rate.
How’d that compare to the NFL though? Well, the NFL accounted for $87.6 million in wagers, with a 9.7 percent hold yielding over $8.5 million in revenue. College football lagged, bringing in $14.7 million in handle but costing operators nearly $940,000.
Per usual, parlay bets turned out to be the sucker’s bet. Parlays netted $236.2 million in betting handle and a hefty 24.7 percent hold — resulting in $58.4 million in revenue. Across any top mobile betting app, you’ll see the consistent trend of parlays making up a huge chunk of the total revenue.
It’s worth mentioning the Australian Open in tennis was a betting event in its own right. It generated $31.2 million in wagers. That was more than soccer did with $15.9 million in bets. A mishmash of other sports — including hockey, golf, and racing — collected $54.5 million.
Which Sportsbook Won In January?
The battle for Maryland’s top sportsbook is still a two-horse race between FanDuel and DraftKings. But it’s a one-sided battle at that because FanDuel once again retained its lead in January, finishing with a $278.5 million handle. A big reason for the success? A massive 15.3 percent hold that led to $42.7 million, marking a 68% month-over-month surge.
DraftKings remains a strong contender, generating $23.3 million in revenue from a $178.9 million handle and a 13% hold, nearly doubling its December total.
Meanwhile, BetMGM was the only other operator to top $50 million in wagers, earning $5.9 million from an 11.5 percent hold. Fanatics Sportsbook posted a 50 percent revenue jump on $33.4 million in wagers with a double-digit hold. Caesars rounded out the top five with a $29.4 million handle but a modest 7.4 percent hold.
Welp, that covers January in Maryland. Now NBA takes the ball as they are practically the only show in town for February. Check back in a few weeks to read our analysis of that month right here!
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