NFL Playoffs Fuel Record-Breaking Contributions From Maryland’s Sports Betting – Bay Net

BALTIMORE Fueled by the NFL playoffs, Marylands sports wagering market generated $8,246,847 in contributions to the state from a handle of $544,971,369 during January 2024. Contributions to the state from sports wagering go to the Blueprint for Marylands Future Fund, which supports public education programs.

The $8.2 million contribution to the state surpassed the previous single-month high of $6.5 million in December 2023, and was nearly four times more than the January 2023 total of $2,114,613.The January 2024 handle was a 23.4% increase compared to January 2023.

The calendar is always the driving force in sports wagering, and the football playoffs in January reliably produce strong numbers, said Maryland Lottery and Gaming Director John Martin. The AFC Championship game didnt go the way Ravens fans were hoping or expecting, which may have contributed to the results we saw. Its a reminder that unforeseen outcomes happen, so its always best for anyone who wagers to set a budget, have a plan and stick to it, and keep the focus on having fun.

Sports wagering data is tracked and reported based on the State of Marylands fiscal year, which runs from July 1 through June 30. During the first seven months of Fiscal Year 2024 (July 2023 through January 2024), sports wagering has contributed $32,840,755 to the state. February totals, which will include wagers on the Super Bowl, will be reported on March 11.

A detailed summary of the January 2024 results for Marylands 13 retail and 12 mobile sportsbooks, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, along with a summary of statewide handle and hold by sport is included in the attached chart and available for download atmdgaming.com.

Here are the statewide totals for January 2024:

Handle (Amount players wagered, including free promotional wagers)

Retail: $17,192,740 (includes $8,028 in free promotional wagers)

Mobile: $527,778,629 (includes $22,381,924 in free promotional wagers)

Combined: $544,971,369

Prizes (Winnings paid to players)

Retail: $15,464,968

Mobile: $449,505,750

Combined: $464,970,718

Hold (Handle less prizes paid)

Retail: $1,727,772 (10.0%)

Mobile: $78,272,879 (14.8%)

Combined: $80,000,652 (14.7%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts)

Retail: $1,691,417

Mobile: $53,287,561

Combined: $54,978,978

Sports Wagering Tax (15% of the Taxable Win)

Retail: $253,713

Mobile: $7,993,134

Combined: $8,246,847

Since the inception of Marylands sports wagering program in December 2021:

Cumulative contribution to the Blueprint for Marylands Future Fund: $60,982,459

Cumulative expired prizes contributed to the Problem Gambling Fund: $2,797,966

About Maryland Lottery and Gaming

Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the states casinos and sports wagering program. In its regulatory role, the agency provides direction and guidance to casino and sports wagering operators on financial, security, regulatory and licensing procedures. To keep Marylanders informed and to maintain transparency of casino and sports wagering operations, monthly financial reports are posted onmdgaming.com. Maryland Lottery and Gaming strongly encourages responsible play. Maryland residents can obtain confidential help with a gambling problem at no cost by calling 1-800-GAMBLER or visitingmdgamblinghelp.org.

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NFL Playoffs Fuel Record-Breaking Contributions From Maryland's Sports Betting - Bay Net