FanDuel Leads Indiana And Maryland Sports Betting Markets In November

FanDuel enjoyed a successful November in Maryland and Indiana, reporting the highest online sports betting handle in both states amid record months. 

It held a 45.6% market share of Maryland’s $621 million handle, far above its primary competitor, DraftKings. Since online wagering began in Maryland in November 2022, it has been the state’s leading sportsbook.

Indiana has been a different story, though. FanDuel held a 4.2% edge on DraftKings, marking the first time it has had a higher handle in the state in a year and a half.

Hoosier State, Old Line State post record months

Sportsbooks in Maryland and Indiana both set handle and revenue records in November. 

Maryland’s $621 million in betting volume was up 7.7% monthly and 16.5% year over year. 

Online revenue totaled $77.3 million, improving 65.8% monthly and nearly quadrupling the $20.4 million from a year ago.

Indiana sportsbooks had $597.7 million in online wagers, an 11.1% improvement from October’s previous record ($537.9 million) and 20.3% better year over year. 

Revenue totaled nearly $66.5 million, up 89.5% monthly and 156.4% compared to last year.

DraftKings, FanDuel jockey for top sportsbook in Indiana

November was the first time since May 2023 that FanDuel Sportsbook had a higher handle ($214.4 million) than DraftKings ($205.4 million) in Indiana. However, it reported higher revenue totals in all but six months over that timeframe.

November was one of those six months, though. DraftKings Sportsbook had $26.1 million in monthly revenue, 10.2% better than FanDuel’s $23.7 million. Both saw roughly 150% yearly increases.

BetMGM was a distant third, showing yearly growth in handle and revenue. It was well ahead of its next three competitors, Fanatics, Caesars, and bet365 Sportsbook.

Of those three, Caesars’ handle fell by 23.1% year over year, but the book had nearly four times the revenue. The other two sportsbooks were not live in the state a year ago.

ESPN Bet had the largest year-over-year declines, down 33.8% in handle and 49.2% in revenue. Hard Rock Bet closed the gap, generating three-quarters of ESPN Bet’s handle and 86% of its revenue. Both were significant improvements.

FanDuel reports majority of Maryland sports betting revenue share

In addition to handling over 45% of all wagers in Maryland, FanDuel reported more revenue in November than every other sportsbook combined. Its $40.1 million accounted for 51.9% of Maryland’s taxable sportsbook revenue.

DraftKings had a 32.1% market share of the handle, reporting just shy of $200 million. It had another 30% of the state’s revenue, totaling $23.8 million.

Four sportsbooks cleared $10 million in handle and had seven-figure revenues in November. BetMGM remained third in the state, followed by Fanatics Sportsbook. Both improved significantly, increasing their market share from Caesars and ESPN Bet, each with year-over-year declines.

Every sportsbook had massive year-over-year revenue increases due to the 279.8% statewide growth in that category.