Maryland’s sports betting market achieved its highest monthly performance, generating $6,482,403 in tax revenues in December, according to a financial report from Maryland Lottery and Gaming. The figures broke the $5.8 million record set in October.
December’s betting handle was $559,865,463 from Maryland’s 13 retail and 12 mobile sportsbooks. December’s handle also surpassed the $550.7 million record set in November.
A large share of December’s handle came from mobile betting, which accounted for 96.7 percent, or $541,650,934, of the handle. Tax revenues of $6,166,034 and $316,369 were brought from mobile and retail sportsbooks, respectively.
Between July and December, sports wagering has contributed $24,593,908 in tax revenues. Since launching in December 2021, Maryland’s sports betting program has contributed $52,735,612 to the Blueprint for Maryland’s Future Fund, supporting public education in the state, and $2,765,070 to the Problem Gambling Fund.
“The numbers we’re seeing over the last six to 12 months reflect the maturation of the market,” John Martin, director of Maryland Lottery and Gaming, said. “Initial projections were that sports wagering would generate $25 million to $30 million annually for the state as the market was ramping up. We’ve now had more than a year of mobile wagering, and we expect the annual contribution to settle in at more than $40 million.”
