Maryland Gambling Contributes $1.59 Billion To State In FY2023
According to the Maryland Lottery and Gaming Control Agency data, Old Line State generated $1.59 billion in gambling revenue to support state programs in fiscal year 2023 (FY2023). FY2023 refers to the period between July 1, 2022, and June 30, 2023.
Maryland gambling includes:
- The Maryland Lottery
- The state’s six casinos
- Sports betting and fantasy sports
These three forms of gambling provide funding for schools, public health and safety initiatives and other vital state programs and services. In FY2023, the combined contribution to the state included:
- $848.1 million from casinos
- $714.3 million from the Lottery
- $25.3 million from sports betting
- Additional $1.2 million from daily fantasy sports
Maryland Lottery and Gaming is the state’s fourth-largest source of revenue after income, sales and corporate taxes.
Maryland Lottery profit to the state increases 6% from FY2022
According to the annual report by Maryland Lottery and Gaming, the state lottery continued its growth in FY2023 across all verticals:
- Profit to the state: $714.3 million, a 6% increase from FY2022’s $673.7 million
- Total sales: $2.764 billion, a 3.8% growth from FY2022’s $2.66 billion
- Player prizes: $1.73 billion, an increase of 2.2% from last year’s $1.695 billion
- Retailer sales and cashing commissions: $219.9 million, 8.3% up from the FY2022’s $203 million
- Scratch-off sales: $1.06 billion, 5.3% growth from last year’s $1.01 billion
- Powerball sales: $157.8 million, 23.7% up from FY2022’s $127.6 million
Maryland Casinos collect $848.1 million in FY2023, a 1.9% yearly increase
In addition to their gaming floors, Maryland casinos continued offering various entertainment options during FY2023 to attract a wide section of visitors. Maryland’s six casinos are:
- MGM National Harbor
- Live! Casino & Hotel
- Horseshoe Casino Baltimore
- Ocean Downs Casino
- Hollywood Casino Perryville
- Rocky Gap Casino
Gaming revenues and contributions to the state improved slightly from the FY2022 totals. Casinos generated $2.060 billion in revenue from slot machines and table games. The figure is a 2.9% increase from FY2022’s $2.001 billion.
The state contribution of $848.1 million is 1.9% up from FY2022’s $832.3 million. Here’s how it’s divided:
- Contribution to the Education Trust Fund: $622.7 million (1.8% up from FY2022’s $611.6 million)
- Small, Minority, Women-Owned Business Fund Contribution: $19.85 million (1.4% increase from FY2022’s $19.58 million)
- Problem Gambling Fund Contribution: $4.48 Million (0.6% increase from FY2022’s $4.45 million)
Maryland sportsbooks contribute $25.3 million to the state in FY2023
Contributions from sports betting to the state in FY2023 were $25.3 million. The money goes to Blueprint for Maryland’s Future Fund, which supports public education programs.
Maryland sports betting expanded during FY2023, as online sports betting launched on November 23, 2022.
The fiscal year began with five retail sports betting locations and no online options to bet on. As of the end of FY2023 on June 30, there were ten retail locations and ten mobile operators. Furthermore, two online sportsbooks have launched in FY2024, and players can expect additional retail locations and online platforms to launch soon.
Maryland Lottery and Gaming estimated that once the sports betting market is in full swing, it will generate $25-$30 million a year in contributions to the Blueprint.
Sports betting operators pay 15% of their taxable win to the Blueprint. Players bet around $2.9 billion, with prizes to players totaling more than $2.5. Expired sports betting prizes are paid to the Problem Gambling Fund and equaled nearly $2.1 million in FY2023.
Currently, 11 daily fantasy sports operators are live and pay 15% of their revenue to the Blueprint. In FY2023, these contributions totaled $1.2 million.