Maryland Sees Significant Rise in Sports Betting with $5.7 Million in April

Baltimore, Maryland (May 10, 2024) — In April, sports betting in Maryland generated $5,686,446 which was the fourth-best single-month total for the state so far.

The $5.7 million contribution to the state represented a 47.1% increase from the $3.8 million figure in April 2023.

The $486.3 million in handle was an increase of 48.0% compared to the $328.4 million total in April 2023.

According to Baltimore television station WBFF, sports wagering data is tracked and reported based on the State of Maryland’s fiscal year, which runs from July 1 through June 30.

During the first 10 months of Fiscal Year 2024 (July 2023 through April 2024), sports wagering has contributed $47,591,698 to the Blueprint for Maryland’s Future Fund.

Here are the statewide totals for April 2024:

Handle (Amount players wagered, including free promotional wagers)

• Retail: $11,325,301 (includes $9,150 in free promotional wagers)
• Mobile: $474,993,823 (includes $11,076,029 in free promotional wagers)
• Combined: $486,319,124

Prizes (Winnings paid to players)

• Retail: $10,996,106
• Mobile: $424,902,313
• Combined: $435,898,419

Hold (Handle less prizes paid)

• Retail: $329,195 (2.9%)
• Mobile: $50,091,510 (10.5%)
• Combined: $50,420,705 (10.4%)

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

• Retail: $423,361
• Mobile: $37,486,282
• Combined: $37,909,642

Sports Wagering Tax (15% of the Taxable Win)

• Retail: $63,504
• Mobile: $5,622,942
• Combined: $5,686,446

Since the inception of Maryland’s sports wagering program in December 2021:

• Cumulative contribution to the Blueprint for Maryland’s Future Fund: $75,733,402
• Cumulative expired prizes contributed to the Problem Gambling Fund: $3,052,020

Sports wagering contributions go to the Blueprint for Maryland’s Future Fund, which supports public education programs.

SOURCE: FOX 5 NEWS / WBFF