MARYLAND- In July 2024, Maryland's sports wagering market made a significant impact, generating $6.25 million in contributions to the state from a total of $333.3 million in bets placed. This contribution, directed to the Blueprint for Maryland’s Future Fund to support public education, marks the fourth-highest single-month total since the program's inception. Notably, this figure nearly doubles the $3.3 million recorded in July 2023, highlighting the rapid growth of sports wagering in the state.
The $333.3 million in bets, or handle, represents a 34.7% increase from the $247.4 million wagered in July of the previous year. Additionally, $88,955 from expired sports wagering prizes was added to Maryland’s Problem Gambling Fund in July 2024.
July 2024 saw the operation of 13 mobile platforms and 12 retail locations, compared to 11 mobile sportsbooks and 10 retail outlets during the same period in 2023. This expansion in available platforms likely contributed to the overall increase in handle and state contributions.
The detailed breakdown of Maryland's sports wagering figures for July 2024 reveals that $8.37 million was wagered at retail locations, while $324.9 million was bet via mobile platforms. Winnings paid out to players totaled $289.5 million, leaving a combined hold (the amount kept by sportsbooks after paying out winnings) of $43.76 million. After accounting for prizes, promotional play, and other deductions, the taxable win stood at $41.7 million, of which 15% ($6.25 million) was contributed to the state.
Since the sports wagering program began in December 2021, Maryland has directed a cumulative $94.7 million to the Blueprint for Maryland’s Future Fund and has contributed nearly $3.3 million from expired prizes to the Problem Gambling Fund.