Maryland reports $431.5m in May sports wagering handle
Sports betting made close to $7m in state contributions during the month.
The state of Maryland has posted its sports betting results for the month of May. Bettors statewide placed more than $431.5m in wagers throughout the month.
During May, statewide sports betting contributed nearly $7m in contributions out of its total sports betting handle.
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 was the state’s second-best single-month total. May’s sports betting contribution was more than double what the state received one year ago.
Contributions to the Blueprint for Maryland’s Future Fund have reached more than $54.5m so far this fiscal year. According to the state’s calendar, its fiscal year runs from July 1 to June 30.
The state reported significant growth in its sports betting handle year-over-year as well. Last month’s handle rose by 34.8% when compared to results from the same month last year.
In a breakdown of May’s handle, $419.5m came from mobile sports betting, while another $12m came from bets placed in retail sports wagering locations.
Players took home more than $380.4m in winnings during the month of May. Online and mobile players won $369.5m, while retail bettors won $10.8m.
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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