July sports betting in Maryland generates $7.2m in tax revenue

The Maryland Lottery and Gaming Control Agency has reported a $7.2m contribution from sports wagering to the state in July.

According to the regulator, sports bettors placed $364.1m in wagers during the month and collected $319.5m in prizes. Sportsbook operators retained 12.2% of the handle.

Maryland’s sports wagering market saw $364.1m in total bets, with players winning back $319.5m. The resulting 12.2% hold represented the portion retained by sportsbook operators after payouts, covering operational costs and generating taxable revenue for the state. 

This performance reflects steady betting activity during the summer, maintaining the industry’s contribution to public funds.

Breaking down the month’s results, statewide handle included $6.55m from retail sportsbooks and $357.53m from mobile operators, incorporating $6,500 and $7.21m respectively in deductible-free promotional wagers. 

Players collected $5.69m in retail winnings and $313.83m in mobile winnings, leaving a combined hold of $44.56m, which represents 13.2% for retail and 12.2% for mobile.

After deducting prizes, promotional wagers and other adjustments, taxable win stood at $36.48m: $859,041 from retail and $35.62m from mobile. 

Good to know: The Maryland lottery informed a $1.59bn contribution to state programs and services for the Fiscal Year 2025

Corresponding tax contributions amounted to $128,856 from retail operators (15% of taxable win) and $7.12m from mobile operators (20% of taxable win), for a total of $7.25m.

Since the launch of Maryland’s sports wagering program in December 2021, the Blueprint for Maryland’s Future Fund has received $182.85m, the state’s General Fund has collected $1.78m and $4.67m in expired prizes has been directed to the Problem Gambling Fund.

Carlos Mendez

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Odds tell a story long before the result does. When bettors learn to read that story properly, betting becomes a matter of discipline and value rather than emotion or guesswork.

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