Maryland Lottery and Gaming reported $39.7 million in gross sports betting revenue for June on Wednesday thanks to a 10.3% hold on $384.7 million in handle.
It was the third consecutive month sportsbooks across the Old Line State combined for a double-digit win rate. The state’s 13 sports betting apps combined for a 10.5% hold in June and kept $39.2 million of the $373.4 million wagered.
With a sharp drop in promotional spend by operators — the $816,700 reported was an all-time monthly low and down 89.5% from the $7.8 million in bonuses and credits offered to the public in June 2023 — the state was able to levy taxes on $38.2 million in adjusted gross revenue. That resulted in an inflow of $5.7 million in receipts into tax coffers.
Year-over-year gross revenue was up 46.5% from June 2023, slightly lagging behind the 51.6% surge in handle. Operator winnings were down 22.3% from May, steeper than the 10.9% dip in handle as May’s win rate was 11.8%.