As known from:
The SunFootball365Sportskeeda
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Contains commercial content
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Betting.net / NCAA News / Maryland’s total handle continues to drop to $19.1 million in June

Maryland’s total handle continues to drop to $19.1 million in June

Publish Date: July 13, 2022
Fact checked by: Jesse M Cox
The Chesapeake Bay Bridge connects Maryland's Eastern and Western Shores., tags: total handle $19.1 million - CC BY-SA

The Chesapeake Bay Bridge connects Maryland’s Eastern and Western Shores. – CC BY-SA

The Maryland Lottery & Gaming Commission reported Monday that the state’s total handle of sportsbooks dropped again to $19.1 million in June. The number has never dropped from $20 million since December 2021 when retail sports betting was introduced. It was the lowest month ever since launch.

The sportsbooks are also not seeing a lot of profit for themselves as most go to pay other parties. Out of $19,121,331 in total handle, $17,811,497 goes back to winning players. The sportsbooks themselves only kept 6.9 percent or $1.3 million as a hold.

The hold will be fractured again to pay off the state for taxes purposes which amounts to a $189,323 portion of the hold. The fund will go to the Blueprint for Maryland’s Future Fund to support public education programs in the state.

Maryland’s Fiscal Year 2022 is finally over with the addition of June’s number. After seven months since its launch in December, the state sees more than $174.7 million in total handle. 11.2 percent were kept by the sportsbooks as holds. The state has also seen almost $ 3 million in taxes from sports betting.

The number might drop due to the many major sports leagues concluding their 2022 season recently.

The number of total handles might fall even lower in the coming months as the slip started in April. The total handle for April was $27 million, which was already a drop from March’s $31 million – seeing a decrease of 13.3%. Gross gaming revenue was $2.8 million for April, where $415,801 went to the state as tax and $65,000 for promotional partnerships payments.

The biggest month for the state was January. The total handle was $32.5 million with $28.1 million paid to the winning players. The revenue was almost $4.8 million with 13.4 percent kept by the sportsbooks. The state then got to see $644,098 in tax.

Read Also
Caesars Maryland is launching this week. Up to $100 in Free Bets to all new players
Today, 23 November 2022, six of the top US sportsbooks have gone ...
Maryland Sport Betting is launching this week: Get more than $1000 in free bets from the start
We’ve found some amazing Maryland sports betting launch promo codes and we’re ...
BetRivers.com Promo
Detroit casinos see revenue drop in September 2022, per report
According to the Michigan Gaming Control Board (MGCB), quarterly and monthly reports ...
Illinois Tops $760 Million in Sports Betting Handle For May
The Illinois Gaming Board released the statistics for May, revealing that the ...
MLB Sunday lineups: Pitcher rankings, betting advice
The entire MLB schedule for Sunday, July 10, 2022, begins at 12:05 ...
Sportsbook of the month
BetRivers.com - Get your Free Bet now! Get your Free Bet now!
Latest News
Macau issues casino licenses to MGM, Sands, and Wynn
The government of Macau announced Saturday that it ...
Entain Approved for 5 German Licences & First Poker License
Entain has had five licenses approved in Germany ...
Esports Regulatory Discussions to Come Into the Light
The popularity of esports has grown exponentially over ...
Maryland Online Sports Betting to Launch Before Thanksgiving
We’ve got great news for fans of sportsbooks ...
Top Betting Sites
Top Betting Bonuses
SI Sportsbook
SI Sportsbook
SI Sportsbook Review
97/100
BetRivers.com
BetRivers.com
BetRivers.com Review
95/100
BetMGM
BetMGM
BetMGM Review
94/100
DraftKings
DraftKings
DraftKings Review
92/100
FanDuel
FanDuel
FanDuel Review
90/100
SI Sportsbook
SI Sportsbook Bonus
BET $20 GET $200 IN FREE BETS
T&Cs apply
9.7/10
First deposit only | 21+ & located in CO, MI, VA | Promo code EXTRA200| A qualifying bet is $20 or more | Min odds of +120 or more | Free Bet Tokens credited after bet is settled and expire after 7 days | Free Bet stakes not included in winnings | Please Gamble Responsibly - Gambling Problem? VA: CALL 1-888-532-3500, CO: CALL 1-800-522-4700, MI: CALL 1-800-270-7117 | Full T&C apply
BetRivers.com
BetRivers.com Bonus
100% up to $500
T&Cs apply
9.5/10
BetMGM
BetMGM Bonus
100% up to $1000
T&Cs apply
9.4/10
DraftKings
DraftKings Bonus
20% up to $1000
T&Cs apply
9.2/10
WynnBET
WynnBET Bonus
Bet $100 Get $100
T&Cs apply
9/10
Get the latest updates in Sports and Casino via our Newsletter
Poker & Bingo

Full coverage of poker and bingo, from reviews of providers to guides and much more besides!

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

ccwww
Move to Top
Close
Our Sports Pros recommend these awesome Social Casino sites this week:
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site