Maryland sports bets reach $4.6 billion

Sports Betting

Maryland’s sports wagering market experienced its most profitable month in December 2023, generating a substantial $6,482,403 for the state. This remarkable contribution, derived from a total betting handle of $559,865,463, marks a significant milestone for the industry.

The state’s 13 retail and 12 mobile sportsbooks are pivotal in this achievement. Each contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, a program that supports public education. This nearly $6.5 million in contributions surpassed the previous high of $5.8 million recorded in October 2023, emphasizing the growing momentum of the market.

A significant portion of December’s handle, amounting to 96.7% or $541,650,934, came from mobile wagering. This segment contributed $6,166,034 to the state’s coffers, while retail sportsbooks added another $316,369.

Maryland Lottery and Gaming Director John Martin commented on the market’s growth: “The numbers we’re seeing over the last six to 12 months reflect the maturation of the market.” Initial estimates projected annual contributions from sports wagering to range between $25 million and $30 million. However, with over a year of mobile wagering, the state anticipates annual contributions exceeding $40 million.