Maryland October sports betting handle reaches $593.1m
This is the highest handle on record since the market opened.
Key Points
- Maryland posted its largest sports betting handle to date, beating its previous high from December 2023
- The state collected $7m for its Blueprint for Maryland’s Future Fund
Maryland Lottery and Gaming has published its sports betting results for October 2024. The state posted its largest single-month handle to date, with last month’s total reaching $593.1m.
October’s handle grew year-over-year by 22.8%.
Last month, players won more than $543.5m in prizes from bets placed.
So far for the fiscal year, the state’s sports betting handle has reached more than $1.84bn, reflecting a year-over-year increase of 27.8%.
Maryland sports bettors have walked away with nearly $1.67bn in winnings for the fiscal year.
The report also noted that the local sports wagering market contributed more than $7m to the state during the month of October.
This figure rose by 21.3% when compared to what the market generated for the state last year.
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.
Lottery and Gaming Director John Martin commented, “October is a uniquely busy month on the sports calendar because all of the major pro leagues in the US are in season, along with NCAA football. The Baltimore Ravens and Washington Commanders have both looked like Super Bowl contenders, so there’s definitely been extra enthusiasm in the air.
“We can’t say exactly how much that translated into the strong handle we saw in October, but the success of the local teams captures everyone’s attention, so it was most likely a factor.”
Retail sports betting has been legal in the state of Maryland since 2021. The state opened its online sports wagering market in 2022.
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