BALTIMORE – Maryland Lottery and Gaming said Monday it brought more than $1.5 billion to the state through the lottery, six casinos, sports betting and fantasy sports in fiscal year 2022, a record sum.
Revenue supports state schools, public health, public safety and other state services. The agency said it is the state’s fourth-largest source of revenue after income, sales and business taxes.
“We are very proud to be a vital source of funding for the programs and services that Marylanders depend on every day,” said John Martin, director of the Maryland Lottery and Gaming. “We’re in the entertainment business, but we never lose sight of the role we play and our place in the community.”
The Lottery made a profit of $673.7 million this fiscal year, surpassing the previous record set last year by more than $6 million, the agency said. Lottery money goes into the Maryland General Fund, which provides budgets for a litany of state programs.
Maryland’s six casinos brought in $832.3 million for the state, beating last year’s record total by nearly $109 million.
Casino revenues support the Education Trust Fund, minority-owned small businesses, and the jurisdictions in which the casinos are based. The education fund got another record contribution: $611.6 million, up from nearly $70 million last year.
Sports betting and fantasy sports contributions also go to educational programs. Since the state’s first five sportsbooks opened in December, sports betting has brought in $3 million and fantasy contests have brought in $2.6 million.
The commission estimates that when the sports betting program is fully developed, it will bring in about $30 million annually.
Across the state, 17 entities have been designated to conduct sports betting. Eleven of these entities are qualified and six of them are already in operation.
CBS Baltimore staff
