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Sports Wagering Contributes Nearly $7 Million To The State Of Maryland During May 2024


Sports Wagering Contributes Nearly $7 Million To The State Of Maryland During May 2024

BALTIMORE— Maryland’s sports wagering market generated $6,991,225 in contributions to the state from a handle of $431,528,137 during May 2024. Sports wagering contributions go to the Blueprint for Maryland’s Future Fund, which supports public education programs.

The $6.9 million contribution to the state in May 2024 was the second-best single-month total and represented a 50.3% increase from the $4.6 million figure in May 2023. The $431.5 million in handle was an increase of 34.8% compared to the $320.2 million total in May 2023.

Sports wagering data is tracked and reported based on the State of Maryland’s fiscal year, which runs from July 1 through June 30. During the first 11 months of Fiscal Year 2024 (July 2023 through May 2024), sports wagering has contributed $54,582,952 to the Blueprint for Maryland’s Future Fund.

A detailed summary of the May 2024 results for each sportsbook, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, along with a summary of statewide handle and hold by sport is included in the attached chart and available for download at mdgaming.com.

Here are the statewide totals for May 2024:

Handle (Amount players wagered, including free promotional wagers)

·         Retail: $12,039,657 (includes $33,496 in free promotional wagers)

·         Mobile: $419,488,480 (includes $3,142,850 in free promotional wagers)

·         Combined: $431,528,137

Prizes (Winnings paid to players)

·         Retail: $10,890,906

·         Mobile: $369,572,100

·         Combined: $380,463,006

Hold (Handle less prizes paid)

·         Retail: $1,148,751 (9.5%)

·         Mobile: $49,916,380 (11.9%)

·         Combined: $51,065,131 (11.8%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts)

·         Retail: $875,290

·         Mobile: $45,733,074

·         Combined: $46,608,364

Sports Wagering Tax (15% of the Taxable Win)

·         Retail: $131,294

·         Mobile: $6,859,961

·         Combined: $6,991,255

Since the inception of Maryland’s sports wagering program in December 2021:

·         Cumulative contribution to the Blueprint for Maryland’s Future Fund:  $82,724,657

·         Cumulative expired prizes contributed to the Problem Gambling Fund:  $3,137,431

About Maryland Lottery and Gaming

Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the state’s casinos and sports wagering program. In its regulatory role, the agency provides direction and guidance to casino and sports wagering operators on financial, security, regulatory and licensing procedures. To keep Marylanders informed and to maintain transparency of casino and sports wagering operations, monthly financial reports are posted on mdgaming.com. Maryland Lottery and Gaming strongly encourages responsible play. Maryland residents can obtain confidential help with a gambling problem at no cost by calling 1-800-GAMBLER or visiting mdgamblinghelp.org.



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