Maryland Lottery and Gaming released its sports betting results for August. Last month, sports betting brought in almost $5.6 million for the state, more than double what was collected in the same month last year. The state also hit a new milestone in August. The total contributions from sports betting to the Blueprint for Maryland’s Future Fund reached $100 million. Since sports betting began, the Blueprint Fund has received $100.3 million, while the Problem Gambling Fund has received nearly $3.4 million.
According to current rules, Maryland’s sportsbooks give 15% of all taxable wins to the Blueprint Fund, which supports public education programs in the state.
In August, the state recorded a total handle of nearly $377.4 million, a 43.1% increase from the previous year. Players placed $368.4 million in online bets, and retail locations saw about $9 million in bets. Players won more than $338.1 million during August. Online and mobile players took home $330.3 million, while retail bettors won $7.8 million.
In August, 12 retail locations and 11 mobile platforms operated across the state. Retail sports betting has been legal in Maryland since 2021, and the online sports betting market opened in 2022.
Online gaming has been a topic of discussion in Maryland recently. The Maryland Lottery and Gaming Control Agency is looking into how online gaming could impact the state.
Since December 2021, Maryland’s sports betting program has added $100.3 million to the Blueprint for Maryland’s Future Fund and $3.4 million in expired prizes to the Problem Gambling Fund.
Also read:
