{"id":1584360,"date":"2024-06-12T11:02:40","date_gmt":"2024-06-12T15:02:40","guid":{"rendered":"https:\/\/sports7.us\/?p=1584360"},"modified":"2024-06-12T11:02:40","modified_gmt":"2024-06-12T15:02:40","slug":"maryland-sports-betting-handle-reaches-431m-in-may","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/maryland-sports-betting-handle-reaches-431m-in-may\/","title":{"rendered":"Maryland Sports Betting Handle Reaches $431M In May"},"content":{"rendered":"

Maryland recorded $431.5 million total in sports betting handle for the month of May, a 34.8% increase year-over-year compared to the $320.2 million total in May 2023. Old Line State operators also combined for an 11.8% hold with winnings totaling $380.4 million.<\/p>\n

Maryland retail operators contributed $12.1 million, mobile sportsbooks added $419.4 million<\/h2>\n

According to Maryland Lottery and Gaming, parlays led the list with state gamblers wagering $140.9 million, with total payouts at $104.6 million for a 25.7% hold.<\/p>\n

Of the $431.5 million handle, retail operators contributed $12.1 million (includes $33,496 in free promotional wagers), and mobile sportsbooks<\/a> added $419.4 million (includes $3,142,850 in free promotional wagers).<\/p>\n

However, retail sportsbooks had only $875.2K in adjusted revenue, which led to $131.2K in tax contributions.<\/p>\n

Maryland sportsbooks contribute 15% of their taxable wins. Operators generated $6.9 million in contributions to the state last month, up from $4.6 million in May 2023. The state finished the month with a total taxable win of $46.6 million for online and retail wagering.<\/p>\n

There are currently 11 online sportsbooks available in Maryland: Betfred, BetMGM, betPARX, BetRivers, Caesars, Crab, DraftKings, ESPN BET, Fanatics, FanDuel, and SuperBook.<\/p>\n

FanDuel accepted $195.2 million in wagers in May<\/h2>\n

FanDuel accepted $195.2 million in wagers in May, generating $4.1 billion in tax revenue for the Old Line State. DraftKings finished second overall with $137.4 million in handle and $1.8 billion in tax contributions.<\/p>\n

Since 2022, DraftKings has collected more than $250 million in taxable wins.<\/p>\n

No other operator came close. BetMGM rounded out the top three with a $31 million mobile handle in May, which generated $2.9 million in taxable wins.<\/p>\n

In May 2023, BetMGM reported a $27.4 million handle and $1.9 million in taxable wins. Last month, the operator reported $0 in promo play.<\/p>\n

Caesars Sportsbook reported a $17.5 million handle and ESPN BET saw $16.8 million in wagers as well.<\/p>\n

Additionally, sports betting contributions go to the Blueprint for Maryland\u2019s Future Fund, which supports public education programs.<\/p>\n

During the first 11 months of Fiscal Year 2024 (July 2023 through May 2024), sports wagering has contributed $54.5 million to the Blueprint for Maryland\u2019s Future Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Maryland recorded $431.5 million total in sports betting handle for the month of May, a 34.8% increase year-over-year compared to the $320.2 million total in May 2023. Old Line State operators also combined for an 11.8% hold with winnings totaling $380.4 million. Maryland retail operators contributed $12.1 million, mobile sportsbooks added $419.4 million According to […]<\/p>\n","protected":false},"author":305,"featured_media":1584361,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316],"tags":[447423,447424,447426],"acf":[],"yoast_head":"\nMaryland Sports Betting Handle Reaches $431M In May<\/title>\n<meta name=\"description\" content=\"Maryland recorded $431.5 million total in sports betting handle for the month of May, a 34.8% increase year-over-year compared to the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sports7.us\/news\/maryland-sports-betting-handle-reaches-431m-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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