Maryland sports betting surpasses $100m in education funding
Maryland's sports wagering program has also contributed a total of $3.4m in expired prizes to the Problem Gambling Fund.
Maryland’s sports wagering market has reached a new milestone with its cumulative contribution to the state’s education fund surpassing $100m since the program’s inception.
The Maryland Lottery and Gaming Control Agency reported that August 2024 saw $5.6m in contributions to the state from a total handle of $377m.
These contributions are directed to the Blueprint for Maryland’s Future Fund, which supports public education programs throughout the state.
The sports wagering program – which started with retail sportsbooks in December 2021 and expanded to mobile wagering in November 2022 – has shown substantial growth over the past year.
August 2024’s contribution of $5.6m more than doubled the $2.6m recorded in August 2023. The handle also saw a significant increase of 43.1%, rising from $263.7m in August 2023 to $377.4m in August 2024.
Additionally, $78,740 in expired sports wagering prizes were contributed to the state’s Problem Gambling Fund during the month.
The market currently consists of 11 mobile platforms and 12 retail locations, compared to 12 mobile sportsbooks and 12 retail locations in August 2023.
Mobile betting continues to dominate the market, accounting for $368m of the total handle, while retail betting contributed $8.9m.
Overall, since December 2021, Maryland’s sports wagering program has now contributed a total of $100.3m to the Blueprint for Maryland’s Future Fund, and $3.4m in expired prizes to the Problem Gambling Fund.
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