reports that Maryland’s sports betting revenue has surpassed $100 million since the launch of legal sports betting in the state. The Maryland Lottery and Gaming Control Commission announced that the total revenue from sports betting in the state has reached $135.8 million as of the end of January 2022.
The revenue was generated from both in-person and online sports betting platforms, with the majority of the bets being placed online. Online sports betting accounted for $123.3 million of the total revenue, while in-person sports betting brought in $12.5 million. The state collected $11.9 million in taxes from sports betting revenue during the same period.
Maryland legalized sports betting in November 2020, and the first sports bets were placed in December 2021. Since then, the state has seen a significant increase in sports betting revenue, with more and more Maryland residents participating in sports betting activities.
The revenue generated from sports betting will benefit the state in various ways, including funding education, public safety, and other essential services. The Maryland Lottery and Gaming Control Commission is pleased with the success of sports betting in the state and expects the revenue to continue to grow in the coming months.
Overall, the sports betting industry in Maryland is thriving, and the state is reaping the benefits of legalizing sports betting. With revenue surpassing $100 million and continuing to grow, Maryland is on track to become a major player in the sports betting market. Residents and lawmakers alike are optimistic about the future of sports betting in Maryland and the potential economic benefits it will bring to the state.
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