ExtremeRavens Posted October 10 Posted October 10 The return of the NFL season — and a strong start for the two franchises playing in Maryland — isn’t just good news for fans. It’s also good news for the state’s sports betting industry. Interest in the red-hot Washington Commanders (4-1) and Ravens (3-2) trickled down to the sports betting industry in September, as Maryland posted its most lucrative month of sports betting tax revenue generation since the state legalized sports betting in November of 2021. The early-season NFL interest also coincided with the stretch run for the Orioles, who ended their regular season last month. Marylanders wagered $532.9 million on legal sportsbooks in September, which led to $9.4 million of tax revenue coming back to the state, according to figures released by the state’s lottery Thursday. The monthly tax revenue figure is more than $1 million higher than the previous monthly record of $8.2 million, which was set in January. Tax revenue created by Maryland sports betting goes to the Blueprint for Maryland’s Future Fund, and those funds benefit public education programs. “We’re encouraged that the sports wagering market continues to generate additional funding to support schools, and at the same time we also encourage everyone to be responsible about their betting,” Maryland Lottery and Gaming Director John Martin said in a news release. “Mobile wagering apps have tools that allow you to set limits on your activity. If you bet, please enjoy it in moderation and leave room to simply have fun watching the games and being a sports fan.” Maryland is home to 11 legal mobile sportsbooks and 12 retail sports betting facilities. Major operators in the state include BetMGM, DraftKings and FanDuel. Fanatics Sportsbook also operates in Maryland, and it has a retail sportsbook at the Commanders’ Northwest Stadium, but that location only generated about $75,000 of tax revenue in September. The majority of bets placed in Maryland come via online platforms, rather than in-person wagers. DraftKings and FanDuel are the most-used betting apps in Maryland. DraftKings accounted for $3 million in tax revenue creation in September, while FanDuel paced all sportsbooks by accounting for $4.8 million. Maryland bettors wagered more than $405 million on the two betting apps in September, the first month of the NFL season. Football typically drums up the most sports betting interest across all U.S. states. It’s no surprise that Maryland’s previous monthly sports betting tax revenue record came in January, when the Ravens hosted three games, including two playoff games. Baltimore narrowly missed out on a Super Bowl appearance, which would’ve generated massive betting interest across the state. Given the early season success of both the Commanders and Ravens — each team leads their respective division — it’s possible Maryland could break its September tax revenue record next month when the lottery releases October sports betting figures. The Ravens also host the Commanders on Sunday, in a game that should generate buzz from fans and bettors across the state. The Orioles’ two playoff games took place on the first two days of October, adding to the state’s potential betting frenzy. Have a news tip? Contact Bennett Conlin at bconlin@baltsun.com, 410-332-6200 and x.com/BennettConlin. View the full article Quote
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