Maryland ended the previous fiscal year with record results for its sports betting market.
The Old Line State posted a total sports betting handle of $559.8 million in December 2023 — the best month for sports wagering in state history, according to Maryland Lottery and Gaming. Prizes paid for operators in the state reached $497.5 million for the month.
Maryland, which has 13 retail and online sportsbooks, went live with mobile wagering in November 2022. In December 2022, the state’s sports betting handle closed at $497.1 million.
Maryland’s sports betting operators, which are required to contribute 15% of their taxable wins, generated $6.4 million in contributions in December 2023. The state finished the month with a total taxable win of $43.2 million. The proceeds from the 15% of those taxable wins are allocated toward the Blueprint for Maryland’s Future Fund, which supports public education.
Operators in Maryland had an 11.1% hold in December 2023 with promo play reaching $19.7 million for the month. The state’s licensed sportsbooks include BetMGM, Caesars, DraftKings, ESPN Bet, and FanDuel — America’s largest sports betting operator in terms of market share.
In the fiscal year to date, those operators have helped deliver a $2.5 billion total sports betting handle with $2.2 billion in prizes paid. Contributions to the state in the fiscal year to date have reached $24.5 million.
Evaporating daily fantasy sports market in Maryland
Maryland has reported historic results from sports betting as leaders in the state take a stance on daily fantasy sports. Last month, DraftKings Pick6 shuttered operations in Maryland as state regulators and lawmakers debate whether fantasy contests are considered sports wagers.
Pick6 was initially approved by MLG, which later determined that it violates state regulations. The fantasy contest platform operates in five other states, including Wisconsin and Minnesota.
