Home » Sports betting is funneling millions to Maryland’s public education programs – WTOP News

Sports betting is funneling millions to Maryland’s public education programs – WTOP News

Maryland’s take from legal sports wagering in May was the second highest ever. The $6.9 million contribution to the state last month was 50.3% more than in May of 2023.

Most of the state’s take goes to the Blueprint for Maryland’s Future Fund, which funds early childhood, elementary and secondary education programs.

Total sports wagering in Maryland in May, both at retail sportsbooks and through sports betting apps, was $431.5 million, 35% more than a year ago. The total was down 11.3% from April.

“Maryland bettors took an expected vacation from sports betting in May,” said Steve Bittenbender, analyst at BetMaryland.com. “When sports begin to slow down and the sunshine comes out, total handle size across the country drops.”

Sports betting companies give away a lot of free wagers, and bettors do win.

In May, free promotional wages totaled $3.2 million. A total of $380.5 million in prizes were paid to players in May. More than 95% of sports wagering in Maryland is through sports betting apps, with the remainder at physical sports betting locations.

Sportsbooks and apps pay a 15% tax on winnings they collect.

Since the launch of sports wagering in Maryland, the contribution to the Blueprint for Maryland’s Future Fund is $82.7 million. Expired prizes go to Maryland’s Problem Gambling fund, a total of $3.1 million year-to-date.

Maryland Lottery and Gaming posts sports wagering handles, prizes and contributions to the state online.

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