Maryland Sports Betting Starts FY24 With $3.3 Million In State Contributions

Written By Katarina Vojvodic on August 10, 2023
American Football Players Celebrate On the Field with Maryland sports betting July 2023

After Maryland sports betting operators had a solid performance during the fiscal year of 2023, the first month of FY2024 started relatively well too.

Legal sports betting in the Old Line State offers 21 gambling options, ten retail and 11 online sportsbooks.

According to the latest report released by the Maryland Lottery and Gaming Control Commission (MLGCC) reflecting July, Maryland sportsbooks generated over $247.4 million in betting handle, of which $28.1 million translated into revenue.

Meanwhile, MD sportsbooks delivered $3.3 million in contributions to the state.

Maryland sportsbooks brought $3.3 million to the state in July, up 17.9%

Last month, Maryland’s ten retail and 11 online sportsbooks combined to generate $3.3 million in contributions to the state. To be more precise:

  • Online sports betting collected $3,081,264
  • Retail sportsbooks contributed $231,369

The total figure represents a 17.9% monthly increase compared to June’s sports wagering contribution of $2.8 million.

Each sportsbook must dedicate 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

According to the state regulator, since the inception of Maryland’s sports betting program in December 2021, the state collected the following amounts:

  • Cumulative contribution to the Blueprint for Maryland’s Future Fund: $31,454,337
  • Cumulative expired prizes contributed to the Problem Gambling Fund: $2,383,341

Maryland sportsbooks show a monthly decrease in handle and revenue

Statewide betting handle in July was $247,412,348, with online gambling accounting for 96% of the total at $237,525,908.

Here’s how Maryland sportsbooks handle and revenue in July compared to the previous month:

Sports betting handle:

  • Retail: $9,886,440 (a 7.25% monthly decrease from June 2023’s: $10,659,617)
  • Mobile: $237,525,908 (a 2.58% monthly drop from June 2023’s: $243,817,173)
  • Combined: $247,412,348 (a 2.78% monthly decrease from $254,476,790 collected in June 2023)

MLGCC’s July 2023 report shows retail sports betting revenue was the only vertical that increased from June 2023.

Sports betting revenue:

  • Retail: $1,572,223 (a 148% monthly increase compared to $633,901 generated in June 2023)
  • Mobile: $26,542,297 (only a 0.4% decline from June’s $26,443,217)
  • Combined: $28,114,521 (a 3.83% monthly decrease from the previous month)

A new operator entered Maryland’s sports betting market in July

Maryland added a new mobile licensee last month. The Crab Sports betting app went live in Maryland using GiG’s sports betting platform as its operational tool. With its operator partner, iGaming Cloud Inc, Crab Sports launched on July 13, becoming the state’s 11th mobile sportsbook.

When Maryland sports betting went live in December 2021, the state only allowed in-person betting at five retail locations. The first seven online sportsbooks launched in November 2022.

With the first NFL season quickly approaching for Maryland sports bettors can expect more licenses to be awarded this year.

Photo by PlayUSA
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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