Maryland posts $333.3m July sports wagering handle
Three is the magic number… While sports betting statewide made close to $6.3m in contributions last month.
Maryland Lottery and Gaming has released its July sports betting results. Bettors statewide placed more than $333.3m in wagers throughout the month.
Players around the state wagered $324.9m online, while retail locations accounted for another nearly $8.4m in bets.
During July, statewide sports betting contributed nearly $6.3m in contributions out of its total sports betting handle.
The report said that last month’s total contribution was nearly double what sports betting generated last year and was the fourth-best single month for Maryland since the state opened its regulated market.
Per the current regulations, Maryland’s sportsbooks contribute 15% of all taxable wins to the Blueprint for Maryland’s Future Fund. The organization supports public education programs around the state.
According to the latest report from Maryland Lottery and Gaming, last month’s contribution reflected an increase of 34.7% when compared to last July’s total state contribution.
Players took home more than $289.5m in winnings during the month of July. Online and mobile players won $282.4m, while retail bettors won $7.1m.
Retail sports betting has been legal in the state of Maryland since 2021. The state opened its online sports wagering market in 2022.
Since the market’s debut, the Blueprint for Maryland’s Future Fund has received $94.7m in contributions, while the state’s Problem Gambling Fund has received nearly $3.3m.
Online gaming has been on the radar in the state of Maryland for the past several months. With the topic of possible iGaming legalization on the table, the Maryland Lottery and Gaming Control Agency has studied the effect online gaming could have on the state.
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