Maryland’s sports betting market demonstrated renewed momentum in February, with a total handle of $515.66 million, an 8.4% increase year-over-year. While revenue dipped slightly to $36.73 million – a 15% decrease compared to February 2025 – the overall figures signal a positive trend following a period of slower growth at the end of 2025, mirroring a similar rebound observed in New York. The state collected $7.32 million in taxes from sports wagering during the month, according to data released by Maryland regulators.
The February results offer a crucial benchmark for annual comparisons, benefiting from the consistent structure of the month – always containing four Saturdays and four Sundays. This consistent calendar provides a reliable baseline for assessing year-over-year performance. The uptick in handle suggests a renewed interest in sports betting within the state, potentially driven by major sporting events and increased promotional activity.
Online betting continues to dominate the Maryland market, processing $506.67 million in wagers during February, while retail sportsbooks accounted for $8.98 million. This disparity highlights the growing preference for the convenience and accessibility of mobile wagering platforms. The shift towards online betting is a trend observed across the United States, as more states legalize and expand their digital sports betting offerings.
Shifting Market Share Among Operators
The competitive landscape within Maryland’s sports betting market is undergoing a notable shift. FanDuel, while still a major player with over $200 million in handle for the month, experienced a slight decrease in volume compared to the previous year. DraftKings, however, saw a 10% year-over-year increase, narrowing the gap in handle share.
A significant development in February was the rise of Fanatics, which surpassed BetMGM to claim third place in volume for the first time in the Maryland market. Fanatics’ handle grew by 27% compared to February 2025, demonstrating its increasing appeal to bettors. This competition between Fanatics and BetMGM is indicative of a broader battle for third place in the national sports betting market, a dynamic that will likely continue to unfold throughout 2026.
Retail Sportsbooks Face Declining Volume
In contrast to the growth in online betting, Maryland’s 11 brick-and-mortar sportsbooks experienced a combined 28% decrease in volume year-over-year, marking the smallest February to date for in-person wagering. The closure of two sportsbooks at Greene Turtle locations in Canton and Towson contributed to this decline. Bettors allowed combined margins of just 6% for the month, indicating unfavorable results for the retail books.
This trend of declining in-person betting is not unique to Maryland, as consumers increasingly favor the convenience of online platforms. However, the continued presence of retail sportsbooks provides an additional option for those who prefer the traditional betting experience.
National Sports Betting Trends
Maryland’s February performance is part of a broader trend observed in several other states that have reported their figures. Here’s a snapshot of key data from other markets:
- New York: Handle of $2,010,593,318 (▲ 1.5%), Revenue of $175,958,437 (▼ 4.6%)
- North Carolina: Handle of $593,274,723 (▲ 9.7%), Revenue of $58,058,338 (▼ 4.3%)
- Iowa: Handle of $203,452,257 (▼ 0.0%), Revenue of $19,440,128 (▼ 7.1%)
- Kansas: Handle of $186,676,457 (▼ 11%), Revenue of $19,258,451 (▼ 41%)
- Oregon: Handle of $70,603,658 (▲ 3.4%), Revenue of $7,192,953 (▲ 26%)
Collectively, these early-reporting markets saw a 5.4% increase in handle but an 8.5% decrease in revenue compared to February 2025. More data from additional states is expected to be released in the coming weeks, providing a more comprehensive picture of the national sports betting landscape. You can find the full New York report here.
The March report for Maryland will be crucial in determining whether the February gains represent a sustained trend or a temporary fluctuation. As the sports betting market continues to evolve, ongoing monitoring of key metrics will be essential for understanding its trajectory, and impact.
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