In a record-breaking month for Maryland’s sports wagering market, September 2024 saw a contribution of $9,379,598 to the state, generated from an impressive handle of $532,866,676. The contributions will benefit the Blueprint for Maryland’s Future Fund, which supports public education initiatives.
The significant milestone marked the highest monthly contribution since sports wagering was launched in Maryland nearly three years ago, surpassing the previous high of $8.2 million in January 2024. September’s performance also represents nearly triple the contributions made in September 2023, when $3.2 million was sent to the Blueprint Fund.
Mobile Wagering Boosts Contributions
Maryland’s sports wagering landscape has evolved quickly. Retail sportsbooks first opened in December 2021, with mobile sports wagering following in November 2022. The expansion of mobile betting has played a critical role in boosting the state’s revenue from sports wagering.
In September 2024, there were 11 mobile platforms and 12 retail locations operating across the state. By comparison, September 2023 had 12 mobile sportsbooks and 13 retail venues. Despite the slight decrease in venues, the industry saw a sharp increase in both handle and contributions.
Mobile sports betting was the primary driver of September’s success, accounting for $518.9 million of the total handle, compared to $13.9 million from retail wagering. After paying out prizes, the hold—what remains after winnings are paid—was $63.5 million for mobile wagering and $1.97 million for retail sportsbooks.
Contributions to the State Fund Grow
The total taxable win—calculated after prizes, promotional wagers, and other deductions—was $62.5 million, of which $60.6 million came from mobile platforms and $1.87 million from retail. The state imposes a 15% tax on taxable wins, which contributed to the record-setting $9.4 million in September 2024.
The first quarter of Fiscal Year 2025 (July through September 2024) saw $21.2 million in sports wagering contributions to the state. This represents a sharp increase from the $9.1 million contributed during the same period in Fiscal Year 2024, demonstrating the rapid growth of Maryland’s sports betting market.
Focus on Responsible Gaming
Maryland Lottery and Gaming Director John Martin expressed optimism about the continued growth of the state’s sports wagering market while emphasizing the importance of responsible betting. “We’re encouraged that the sports wagering market continues to generate additional funding to support schools, and at the same time, we also encourage everyone to be responsible about their betting,” Martin said.
He highlighted the tools available through mobile wagering apps that allow users to set limits on their activity, helping to promote moderation. “If you bet, please enjoy it in moderation and leave room to simply have fun watching the games and being a sports fan,” Martin added.
Detailed September 2024 Results
The Maryland Lottery and Gaming Commission provided a detailed breakdown of the September 2024 sports wagering results, which included statewide totals for handle, prizes, hold, and taxable wins. The state’s handle, which includes free promotional wagers, amounted to $532.8 million overall, with retail sportsbooks contributing $13.9 million and mobile platforms generating $518.9 million.
Here’s a summary of the key figures:
- Handle (amount wagered):
- Retail: $13,956,040
- Mobile: $518,910,635
- Combined: $532,866,676
- Prizes (winnings paid):
- Retail: $11,984,442
- Mobile: $455,450,435
- Combined: $467,434,876
- Hold (handle less prizes paid):
- Retail: $1,971,599 (14.1%)
- Mobile: $63,460,201 (12.2%)
- Combined: $65,431,800 (12.3%)
- Taxable Win (amount remaining after deductions):
- Retail: $1,870,785
- Mobile: $60,659,868
- Combined: $62,530,653
- Sports Wagering Tax (15% of taxable win):
- Retail: $280,618
- Mobile: $9,098,980
- Combined: $9,379,598
Long-Term Contributions to Maryland
Since the inception of Maryland’s sports wagering program in December 2021, cumulative contributions to the Blueprint for Maryland’s Future Fund have reached $109,671,118. In addition, expired prizes have contributed $3,431,146 to the Problem Gambling Fund, which is used to support programs aimed at preventing and treating gambling addiction.
For a full, detailed summary of the September 2024 results, including handle, hold percentage, and contributions broken down by sportsbook, visit mdgaming.com.
