Maryland Lottery and Gaming reported Monday that the state’s sportsbooks claimed more than $58.7 million in gross sports wagering revenue for the month of October, with operators receiving most of their winnings via parlay bets.
It was the third-highest haul for Old Line State sportsbooks in 23 months of overall wagering, behind the $85.2 million accrued last December in the first full month of mobile betting and the $59.6 million in winnings to start 2023. The $483.1 million wagered in October ranks second all-time, trailing only the $497.1 million worth of accepted wagers last December.
The statewide hold on gross revenue was 12.2%, the 20th time it was 10% or higher, as the hold on parlays was 21.1% on $179.5 million handle. That resulted in a windfall of $37.8 million in revenue, representing nearly 65% of the overall amount. In the five months Maryland Lottery and Gaming has broken out handle and revenue by sport category, operators have won $116.4 million from parlay bets while crafting a 20.6% win rate.