Maryland February sports betting handle reaches $442.5m

The Maryland Lottery and Gaming has released its sports betting figures for the month of February. The state generated handle of $442.5m during the month.

In a breakdown of its total handle, nearly $14.1m came from retail sports betting, while the remaining total of $428.4m came from online and mobile sports wagers.

For February, sports betting contributed close to $4.2m, which went to fund Blueprint for Maryland’s Future Fund. The organization supports public education programs.

Currently, Maryland’s sportsbooks contribute 15% of all taxable wins to the Blueprint for Maryland’s Future Fund.

Retail sports betting has been legal in the state of Maryland since 2021. The state opened its online sports wagering market in 2022.

Maryland has 13 mobile sportsbooks and 12 retail sportsbook locations. The state is now considering whether it will expand gambling to include iGaming and iLottery options.

Maryland Senator Ron Watson recently put together a proposal that would legalize online gaming, as well as poker.

Should Watson’s bill pass in the state legislature, online gaming revenue would be taxed 46.5%. The state currently brings in revenue from Maryland’s six casinos, along with its revenue from fantasy sports and statewide sports betting.

Watson pitched a similar bill last year to lawmakers, but the Senate Budget and Taxation Committee did not move forward with the proposal.

Those opposed to an expanded market say that bringing iGaming onto the scene could pose a threat to workers in land-based casinos and put their jobs in jeopardy.

Similar objections have been made regarding an online lottery in Maryland, as well.

Sarah Chen

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