Photo credit Wpadington.

Fueled by the NFL playoffs, Maryland’s sports wagering market generated $8,246,847 in contributions to the state from a handle of $544,971,369 during January.

The $8.2 million contribution surpassed the previous single-month high of $6.5 million in December 2023, and was nearly four times more than the January 2023 total of $2,114,613. The January 2024 handle was a 23.4% increase compared to January 2023.

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 seven months of fiscal 2024 (July 2023 through January 2024), sports wagering has contributed $32,840,755 to the state. February totals, which will include wagers on the Super Bowl, will be reported on March 11.

A detailed summary of the January 2024 results for Maryland’s 13 retail and 12 mobile sportsbooks is available at mdgaming.com. Contributions to the state from sports wagering go to the Blueprint for Maryland’s Future Fund, which supports public education programs.

The statewide totals for January 2024 are:

Handle (Amount players wagered, including free promotional wagers)
● Retail: $17,192,740 (includes $8,028 in free promotional wagers)
● Mobile: $527,778,629 (includes $22,381,924 in free promotional wagers)
● Combined: $544,971,369

Prizes (Winnings paid to players)
● Retail: $15,464,968
● Mobile: $449,505,750
● Combined: $464,970,718

Hold (Handle less prizes paid)
● Retail: $1,727,772 (10.0%)
● Mobile: $78,272,879 (14.8%)
● Combined: $80,000,652 (14.7%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts)
● Retail: $1,691,417
● Mobile: $53,287,561
● Combined: $54,978,978

Sports Wagering Tax (15% of the Taxable Win)
● Retail: $253,713
● Mobile: $7,993,134
● Combined: $8,246,847

Since the inception of Maryland’s sports wagering program in December 2021:
● Cumulative contribution to the Blueprint for Maryland’s Future Fund: $60,982,459
● Cumulative expired prizes contributed to the Problem Gambling Fund: $2,797,966