Maryland Sees Over $3 Million in Sports Betting Tax Revenue in September

The beginning of the NFL season has treated the Old Line State very well. The Maryland Lottery and Gaming Agency (MLGA) announced that the state saw over $3 million in tax revenue from sports betting in September. That revenue was collected from Maryland’s 13 retail and 12 mobile sportsbooks, which are taxed at 15%. Those sportsbooks saw over $442 million in wagers in September, a 67% increase from August.

The tax revenue that the state collects is given to the Blueprint for Maryland’s Future fund, which supports education initiatives across the state. The goal for Kentucky is to use sports betting revenue to help increase education funding by $3.8 billion annually over the next ten years.

FanDuel posted the largest September handle with $175 million, while DraftKings was a close second at $154 million. The most impressive number came from the newly launched Fanatics Sportsbook, which finished the month with a handle just below $12 million. That was the fifth-highest total, and it should continue to rise as Fanatics begins to close PointsBet Sportsbook platforms. PointsBet had a handle of over $4 million in Maryland during September, which, combined with Fanatics, would bring them close to Caesars for fourth place. 

Maryland Sports Betting Markey Continues to Grow

Maryland started with just seven online and five retail sportsbooks. That number has continued to grow, including last month when Parx Interactive opened a new sportsbook at The Green Turtle in Townson. They became the thirteenth retail sportsbook available in the state, but that number will grow again soon as DraftKings prepares to launch a new location. 

Maryland’s online sports betting market is also expected to expand soon. Bally Bet and Bee Fee have been licensed to operate but have yet to go live in the state. The Old Line State allows up to 60 online sportsbooks to operate within the state, meaning the market still has plenty of room to expand.