(Baltimore) — Maryland’s sports wagering market contributed $6,991,225 to the state from a handle of $431,528,137 during May 2024. The contributions support the Blueprint for Maryland’s Future Fund, which aids public education programs.
The $6.9 million contribution in May 2024 marked the second-best single-month total for the state’s sports wagering and represented a significant 50.3% increase from the $4.6 million recorded in May 2023. The handle, or the total amount wagered by players, rose by 34.8% compared to $320.2 million in May 2023.
Sports wagering data in Maryland is tracked and reported based on the state’s fiscal year, which runs from July 1 through June 30. During the first 11 months of Fiscal Year 2024, from July 2023 through May 2024, sports wagering has contributed $54,582,952 to the Blueprint for Maryland’s Future Fund.
A comprehensive summary of May 2024 results for each sportsbook, detailing handle, hold percentage, prizes paid, promotional play, taxable win, and state contributions, along with a statewide handle and hold summary by sport, is available at mdgaming.com.
For May 2024, the statewide totals were as follows:
Handle (Total amount wagered, including 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 minus prizes paid)
- Retail: $1,148,751 (9.5%)
- Mobile: $49,916,380 (11.9%)
- Combined: $51,065,131 (11.8%)
Taxable Win (Remaining amount after deducting prizes, promotional wagers, and other amounts)
- Retail: $875,290
- Mobile: $45,733,074
- Combined: $46,608,364
Sports Wagering Tax (15% of 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, the cumulative contribution to the Blueprint for Maryland’s Future Fund has reached $82,724,657. Additionally, expired prizes have contributed $3,137,431 to the Problem Gambling Fund.
The substantial increase in both handle and contributions reflects the growing popularity of sports wagering in Maryland. The mobile sports wagering segment continues to dominate the market, significantly outpacing retail betting.
State officials attribute the success to effective regulatory measures and the appeal of sports betting to a broad audience. The Blueprint for Maryland’s Future Fund, which receives the sports wagering contributions, is designed to enhance public education programs across the state, ensuring that the benefits of this growing industry are felt by the wider community.
The Maryland Lottery and Gaming Control Agency continues to oversee and report on the state’s sports wagering activities, providing transparency and detailed data to ensure the public and stakeholders are informed about the market’s performance and its impact on state funding initiatives.
For further details on the May 2024 sports wagering performance and to download the full report, visit mdgaming.com.
