Thursday marks one year since the launch of legal sports betting apps in Maryland.'
While the state's mobile betting market took a long time to launch – voters approved sports wagering in 2020 – it's now up and running, and the state's regulator is pleased with the financial results.
“The revenue contribution, we originally had estimates of $25-30 million, and we hit that last year in our fiscal year,” Maryland Lottery Director John Martin said. “Looking at fiscal [2024], which will end in June, we might be looking at a significant bump from that. Maybe something in the low 40s in terms of tax contribution. I'm proud of that development, that growth.”
Parlay wagering, like it has across other states, has proved particularly lucrative for sportsbooks in the state. Martin says he likes to believe the majority of the state's tax revenue stems from players following responsible gambling best practices.'