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Maryland Lottery, casinos, sports wagering breaks income records with $1.511B in 2022

Maryland Lottery, casinos, sports wagering breaks income records with $1.511B in 2022
NBC NEWS. THE MARYLAND LOTTERY IS CELEBRATING A RECORD-BREAKING FISCAL YEAR. THE ORGANIZATION GENERATED AN ALL-TIME HIGH OF 1.51 BILLION DOLLARS IN CONTRIBUTIONS ALL TO SUPPORT THE STATE’S GOOD CAUSES. WE’RE IN THE ENTERTAINMENT INDUSTRY, BUT WE NEVER LOSE. OF THE ROLE WE PLAY ARE PLACED IN THE COMMUNITY AND OUR ABILITY AND OUR MISSION TO GENERATE REVENUES RESPONSIBLY. THE TOTAL NUMBER COMES FROM A COMBINATION OF GAMBLING OPPORTUNITIES LOTTERY PROFITS TOTALED 673.7 MILLION WHILE CASINOS BROUGHT IN 832.3 MILLION AND THE LAUNCH OF SPORTS WAGERING ALONG WITH REVENUE FROM FANTASY COMPETITIONS ADDED ANOTHER 5.6 MILLI
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Maryland Lottery, casinos, sports wagering breaks income records with $1.511B in 2022
A record $1.511 billion in gaming profits was contributed to Maryland in fiscal year 2022, according to the Maryland Lottery and Gaming Control Agency. The new record for contributions to the state -- which includes funds from the Maryland Lottery, casino gaming, sports wagering and fantasy competitions (daily fantasy sports) -- beat the prior mark set last year by $120 million.The lottery and Maryland's six casinos each contributed more than ever before to the state, with lottery profits totaling $673.7 million and casino contributions of $832.3 million. The combined figure of $1.506 billion from the lottery and casinos surpassed the $1.391 billion generated in the fiscal year 2021."We saw revenue numbers increase across the board. On the casino side, gross revenues of over $2 billion, but $832 million contributed to the state coffers. And, of that, $611 million go to the Education Trust Fund. And, since 2010, that means casinos have contributed over $4.5 billion to the Education Trust Fund," Maryland Lottery and Gaming Director John Martin told 11 News.The launch of sports wagering in December 2021 and revenue from fantasy competitions in May 2021 added another $5.6 million.Sales of scratch-off tickets fueled the lottery's growth in recent years, with the fiscal year 2022 marking an eighth-consecutive record-setting performance."On the revenue side, the biggest contributing factor was really our growth in instant ticket lottery sales, the scratch-off sales," Martin told 11 News.Scratch-off sales topped the $1 billion mark for the first time, finishing at $1.009 billion, an increase of $16.1 million from the previous record set in the fiscal year 2021.The lottery launched its first new draw game in six years when Pick 5 made its debut in February. Pick 5 sales substantially outpaced those of 5 Card Cash, which was retired to make room for Pick 5 in the lottery's daily game lineup.Maryland Lottery and Gaming is the state's fourth-largest source of revenue after income, sales and corporate taxes.Profits from the sale of lottery tickets go to the Maryland General Fund, which supplies budgets for many state programs, including schools, public health and safety services and environmental programs.Casino gaming revenue supports education; the communities and jurisdictions where the casinos are located; Maryland's horse-racing industry; and small, minority- and women-owned businesses. The casinos also contribute funds that enable the state to offer cost-free problem gambling treatment and services.Sports wagering and fantasy competition contributions are directed to education programs."That's notable this year because we as a lottery were able to achieve Level 4 (World Lottery Association) certification, one of only 10 lotteries in the country to achieve such high awards and acknowledgement of our successful education program," Martin told 11 News. Annually, more than 60% of the lottery's sales total is returned to players in prize money. Record sales in the fiscal year 2022 saw a corresponding record in prizes to players, which totaled $1.695 billion, an increase of $37.5 million from the prior record set last year."We've got plenty of things planned for next year as well. Our 50th anniversary year here at the Maryland Lottery, we'll have lots of exciting products and promotions. Look for that come January," Martin told 11 News. "We expect sports wagering to be fully operational with both the additional retail locations as well as mobile betting. So, odds are good that at this time next year, we'll be talking about another record year."

A record $1.511 billion in gaming profits was contributed to Maryland in fiscal year 2022, according to the Maryland Lottery and Gaming Control Agency.

The new record for contributions to the state -- which includes funds from the Maryland Lottery, casino gaming, sports wagering and fantasy competitions (daily fantasy sports) -- beat the prior mark set last year by $120 million.

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The lottery and Maryland's six casinos each contributed more than ever before to the state, with lottery profits totaling $673.7 million and casino contributions of $832.3 million. The combined figure of $1.506 billion from the lottery and casinos surpassed the $1.391 billion generated in the fiscal year 2021.

"We saw revenue numbers increase across the board. On the casino side, gross revenues of over $2 billion, but $832 million contributed to the state coffers. And, of that, $611 million go to the Education Trust Fund. And, since 2010, that means casinos have contributed over $4.5 billion to the Education Trust Fund," Maryland Lottery and Gaming Director John Martin told 11 News.

The launch of sports wagering in December 2021 and revenue from fantasy competitions in May 2021 added another $5.6 million.

Sales of scratch-off tickets fueled the lottery's growth in recent years, with the fiscal year 2022 marking an eighth-consecutive record-setting performance.

"On the revenue side, the biggest contributing factor was really our growth in instant ticket lottery sales, the scratch-off sales," Martin told 11 News.

Scratch-off sales topped the $1 billion mark for the first time, finishing at $1.009 billion, an increase of $16.1 million from the previous record set in the fiscal year 2021.

The lottery launched its first new draw game in six years when Pick 5 made its debut in February. Pick 5 sales substantially outpaced those of 5 Card Cash, which was retired to make room for Pick 5 in the lottery's daily game lineup.

Maryland Lottery and Gaming is the state's fourth-largest source of revenue after income, sales and corporate taxes.

Profits from the sale of lottery tickets go to the Maryland General Fund, which supplies budgets for many state programs, including schools, public health and safety services and environmental programs.

Casino gaming revenue supports education; the communities and jurisdictions where the casinos are located; Maryland's horse-racing industry; and small, minority- and women-owned businesses. The casinos also contribute funds that enable the state to offer cost-free problem gambling treatment and services.

Sports wagering and fantasy competition contributions are directed to education programs.

"That's notable this year because we as a lottery were able to achieve Level 4 (World Lottery Association) certification, one of only 10 lotteries in the country to achieve such high awards and acknowledgement of our successful education program," Martin told 11 News.

Annually, more than 60% of the lottery's sales total is returned to players in prize money. Record sales in the fiscal year 2022 saw a corresponding record in prizes to players, which totaled $1.695 billion, an increase of $37.5 million from the prior record set last year.

"We've got plenty of things planned for next year as well. Our 50th anniversary year here at the Maryland Lottery, we'll have lots of exciting products and promotions. Look for that come January," Martin told 11 News. "We expect sports wagering to be fully operational with both the additional retail locations as well as mobile betting. So, odds are good that at this time next year, we'll be talking about another record year."