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In October 2024, Maryland Lottery and Gaming revealed that their sports betting business had achieved remarkable achievements, setting a new handle of $593.1 million. Since sports betting began, Maryland has had the greatest single-month handle, which demonstrates the market’s notable expansion over the previous 12 months.
The numbers for October show a 22.8% increase from the previous year, highlighting Maryland’s keen interest in sports betting. Players reported gains of over $543.5 million for the month, which added to a healthy total for the fiscal year. With a 27.8% rise from the previous year, Maryland’s sports betting handle for the fiscal year has already topped $1.84 billion. Since the start of the fiscal year, bettors have also won close to $1.67 billion in total.
In addition to player profits, October’s impressive performance brought in a significant amount of money for the state. In October, Maryland’s sports betting industry brought in over $7 million for the state, a 21.3% increase over the same period the previous year.
According to Maryland regulations, sportsbooks contribute 15% of taxable winnings to the Blueprint for Maryland’s Future Fund, which supports public education. This ensures that as the state’s betting market grows, education programs across Maryland benefit directly.
Maryland Lottery and Gaming Director John Martin attributed some of October’s success to the sports season’s unique activity. He stated, “October is a uniquely busy month on the sports calendar because all of the major pro leagues in the US are in season, along with NCAA football. The Baltimore Ravens and Washington Commanders have both looked like Super Bowl contenders, so there’s definitely been extra enthusiasm in the air. We can’t say exactly how much that translated into the strong handle we saw in October, but the success of the local teams captures everyone’s attention, so it was most likely a factor.”
Maryland’s sports betting journey began with legalized retail sports betting in 2021, followed by the launch of online sports wagering in 2022.