June Surprisingly Lucrative Month for Maryland Sports Betting

Jun 27, 2024; Baltimore, Maryland, USA; Baltimore Orioles pitcher Corbin Burnes (39) delivers in the second inning against the Texas Rangers at Oriole Park at Camden Yards. Mandatory Credit: Mitch Stringer-USA TODAY SportsIn a typically slow time of the year, June was Maryland’s fifth-most lucrative sports betting month everThe Maryland Lottery and Gaming Control Agency reported more than $384.68 million in sports betting handle for the monthThe state took in more than $5.7 million in sports betting tax revenue for the month

During a time of year that supposedly is slow for sports betting, Maryland’s June performance bucked historic expectations for the summer.

The Maryland Lottery and Gaming Control Agency reported a sports betting handle of more than $384 million in June, leading to a little more than $5.72 million in sports betting tax revenue for the state.

It was the fifth most lucrative single-month tax revenue total since Maryland launched sports betting at the tail-end of 2021.

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Double June 2023 Tax Revenue

The Maryland Lottery and Gaming Control Agency reported a total sports betting handle of $384,687,982 for June, a decrease of nearly $50 million from the previous month’s handle total. The $384.7 million in handle was an increase of 51.2% compared with the $254.5 million total reported in Jun 2023.

However, June’s sports betting tax revenue total was surprisingly high during a time of year when wagering activity tends to wane. The state took in $5,728,503 in sports betting tax revenues, good for the fifth-highest monthly total ever in Maryland.

The state’s tax revenues for the month were more than double the $2.8 million p recorded in June 2023.

So far in the fiscal year, sports betting has contributed more than $60.3 million in tax revenues to the state.

Maryland sports bettors won a combined $345,019,100 in retail and online sports betting during June, good for a 10.3% hold for the state. The taxable win for the month, which is the amount remaining after deducting prizes, promos, and other amounts, resulted in $38,190,023 in taxable revenue for the state.

FanDuel Top Online Operator in June

FanDuel continued its Maryland dominance for the month of June, reporting $162,651,695 in online sports betting handle. FanDuel has reported more than $2.3 billion in online sports betting handle for the fiscal year to date. The operator contributed more than $3.3 million in taxes for the month.

DraftKings reported $128,083,651 in online handle for the month, good for second in the state. The operator has reported more than $1.68 billion in online sports betting handle for the fiscal year to date. The operator reported more than $1.55 million in taxes to the state.

Here are the online sports betting handle and tax revenue totals for the month of June:

BetMGM: $$28,722,787 in handle, $359,354 in tax revenueBingo World (BetRivers): $5,267,717 in handle, $29,688 in tax revenueCaesars Sportsbook: $19,777,426 in handle, $95,150 in tax revenueCrab Sports: $560,308 in handle, $0 in tax revenueDraftKings $128,083,651 in handle, $1,559,797 in tax revenueGreenmount (betPARX): $2,096,219 in handle, $10,685 in tax revenueESPN BET: $13,349,462 in handle, $185,721 in tax revenueFanDuel: $162,651,695 in handle, $3,323,881 in tax revenueLong Shots: $405,950 in handle, $0 in tax revenueFanatics Sportsbook: $12,049,515 in handle, $58,611 in tax revenueRiverboat on the Potomac: $0 in handle, $0 in tax revenueSuperBook: $454,254 in handle, $2,865 in tax revenueVeterans Services (Bee-Fee): $0 in handle, $0 in tax revenue