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Maryland Sets All-Time High Sports Betting Handle in December

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The Maryland sports betting market had an impressive outing in December with an all-time high sports betting handle of $559.8m, a 12.58% increase compared to the $497.5m recorded in the same month of the previous year.

The milestone is driven by the state's 13 retail and 12 mobile sportsbooks, with each contributing 15% of its taxable win to the Blueprint for Maryland's Future Fund—an initiative supporting public education. While online betting accounted for $541,650,934 of the total handle, retail betting contributed $18,214,529.

In December 2023, Maryland operators, including BetMGM, Caesars, DraftKings, ESPN Bet, and FanDuel, maintained an 11.1% hold, while promotional play amounted to $19.7 million for the month.

The operators generated $43.2m in total taxable wins in December, and as usual, 15% of the taxable wins, amounting to $6.4m, go towards the Blueprint for Maryland’s Future Fund, which supports public education.

Maryland's Sports Wagering Initiative Exceeds Expectations

Since its launch in December 2021, Maryland's sports wagering initiative has contributed $52,735,612 to the Blueprint for Maryland's Future Fund and allocated $2,765,070 to the Problem Gambling Fund from expired prizes. In the fiscal year to date, the operators have contributed to a total sports betting handle of $2.5 billion, disbursing $2.2 billion in prizes. The state has received contributions totaling $24.5 million in the fiscal year to date.

Related: Maryland Records Gaming Revenue of $155 Million in November

The numbers we’re seeing over the last six to 12 months reflect the maturation of the market.

John MartinMaryland Lottery and Gaming Director

Originally estimated to fall between $25 million and $30 million annually, contributions from sports wagering in the state are now expected to surpass $40 million annually, following over a year of mobile wagering.

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