Maryland Sports Betting Brings $2.8 Million in Taxes for June

• Maryland June sports betting resulted in nearly $3 million in taxes
• $254.5 million in sports bets were placed in June.
• Online sports betting dominated handle, with $243.8 million in bets placed 

Despite losing more than $314,000 in hockey bets for the month, Maryland Lottery and Gaming reported $254.5 million in total Maryland sports betting handle for June which led to nearly $3 million in sports betting taxes.

The state reported $254,476,790 in sports bets for the month and paid out $227,399,671 in prizes to state bettors for a 10.6% hold. Maryland has reported an average 13.3% hold for the fiscal year to date, according to Maryland Lottery and Gaming.

FanDuel Sportsbook reported $108.6 million in online sports betting handle and $10.8 million in taxable win for June, both the highest totals for the month for any operator. It also spent the most in promotional play, reporting nearly $3.5 million.

Maryland Sports Bettors Know Hockey

Maryland lost money on two sports betting markets in June. It lost a pittance to the “motor sports” category, reporting a $932 loss. It’s biggest hit came from ice hockey with the NHL finals leading to a $314,902 loss on hockey bets.

Maryland sports betting’s biggest windfall? Parlay and combination bets. State bettors placed more than $93.36 million in parlay and combination bets, with the state reporting a nearly 20% hold on those types of bets.

In terms of the other major sports? The state reported $65.2 million in baseball bets, $34.45 million in basketball , $23.6 million in tennis, $10.03 million in soccer, $5.6 million in golf, and $2.8 million in ice hockey.

Maryland Operator Totals and Taxes

Maryland Lottery and Gaming reported $2,835,051 in total sports betting taxes for the month at a 15% rate on taxable win. The total taxable win for the month was reported at $18,900,337. The 10 operators totaled $7,754,570 in online sports betting promotional play for the month, with FanDuel Maryland spending the most at $3.47 million and DraftKings Maryland just behind at $1.89 million.

Retail sports betting contributed $91,242 in tax revenue while online sports betting reported the vast majority at $2,743,809 in revenue.

As of the end of June, there are 10 online sports betting operators and 10 retail sports betting operators.

Here are the June handle and taxable win totals for online sports betting:

• BetMGM: $20,843,391 handle. $986,232 taxable win.
• BetRivers: $2,547,894 handle. $58,182 taxable win.
• Caesars Sportsbook: $11,917,179 handle. $362,278 taxable win.
• DraftKings: $89,664,242 handle. $5,665,938 taxable win.
• Barstool Sportsbook: $4,786,828 handle. $277,745 taxable win.
• FanDuel: $108,659,787 handle. $10,812,368 taxable win.
• BetFred: $996,333 handle. $0 taxable win.
• Fanatics Sportsbook: $1,600,335 handle. $0 taxable win.
• PointsBet: $2,358,711 handle. $129,314 taxable win.
• SuperBook: $442,469 handle. $0 taxable win.

Fanatics Sportsbook totaled $1.6 million in online sports betting handle during its first full month of online operation in Maryland.

Live! Casino and its FanDuel partner notched the highest retail sports betting handle in June, reporting more than $2.8 million. Here are the other totals for June:

Here are the Maryland retail sports betting figures, for anyone interested in such a thing: pic.twitter.com/AiexSRGwBP

— RLinnehanXL (@RLinnehanXl) July 10, 2023