The Blueprint for Maryland’s Future Fund has exceeded $100 million in tax contributions since the inception of Maryland sports betting. According to the Maryland Lottery and Gaming (MLG), the monthly handle for sports betting saw an increase in August, with a total of $377.4 million in bets and $39.2 million in revenue. This marked the fifth consecutive month of operators achieving a 10%+ hold on revenue.
Maryland sports betting has shown significant growth compared to the same period last year, with a 43.1% increase in handle and a 57.6% increase in revenue. Tax contributions to the state coffers have also spiked, with a 118.5% increase compared to the previous year. The $5.6 million in tax contributions to the Blueprint for Maryland’s Future Fund has brought the total to over $100 million since December 2021.
FanDuel remains the leading online sportsbook operator in Maryland, with a 44% share of the market. DraftKings follows with a 32% share, and other operators like BetMGM and Caesars also saw significant activity. The retail sportsbooks in Maryland generated a $9 million handle, while online sports betting accounted for nearly 98% of all wagering activity. Overall, Maryland sports betting continues to show strong growth and support for public education programs through tax contributions.
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