Maryland collects more than $25M tax revenue from legal sports betting in first full fiscal year

Saturday, July 15, 2023 1:53 PM
Photo: Shutterstock
  • Derek Helling, PlayUSA

Marylanders now have some idea of what a full fiscal year of legal sports betting in their state looks like. However, it’s still a shadow of what the industry’s potential in their state will be.

Despite the completion of the first full fiscal year of legal wagering on sports in Maryland in June, there’s one big reason why the new fiscal year that began on July 1 will likely prove more lucrative. Regardless, Maryland’s sports betting licensees performed quite well during the 12-month period in question.

For the Maryland Lottery and Gaming Association, fiscal years begin on July 1 and end on June 30.