Maryland’s August sports betting handle reaches $377.4m
The state also collected $5.6m in contributions during the month.
Maryland Lottery and Gaming has published its sports betting results for the month of August. Sports betting last month generated nearly $5.6m in contributions to the state, more than double what the state had collected in the prior year period.
Along with the substantial rise in its monthly contribution, the state also reported that it had reached another milestone last month.
Sports betting cumulative contribution to the Blueprint Fund reached the $100m mark during August.
Since the market’s debut, the Blueprint for Maryland’s Future Fund has received $100.3m in contributions, while the state’s Problem Gambling Fund has received nearly $3.4m.
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.
During August, the state posted a total handle of nearly $377.4m. Last month’s handle rose by 43.1% year-over-year.
Players around the state wagered $368.4m online, while retail locations accounted for nearly $9m in bets as well.
Players took home more than $338.1m in winnings during the month of August. Online and mobile players won $330.3m, while retail bettors won $7.8m.
Last month, 12 retail locations and 11 mobile platforms operated throughout the state.
Retail sports betting has been legal in the state of Maryland since 2021. The state opened its online sports wagering market in 2022.
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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