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Sportsbook Facilities Contribute $477,840 to the State During August

September 13, 2022 | Financial

 Sports wagering handle for the month totaled more than $18.6 million

Baltimore, Maryland (September 12, 2022) — Maryland’s seven wagering facilities combined to contribute $477,840 during August 2022 to the Blueprint for Maryland’s Future Fund, which supports public education programs. Each sports wagering licensee contributes 15% of its taxable win to the state.

 

Details on each facility’s handle, hold percentage, taxable win, prizes, promotional play, and contribution to the state are included in the attached chart and available at mdgaming.com.

 

Here are the statewide sports wagering totals for August 2022:

 

Handle (Amount players wagered, including promotional wagers provided to players by sportsbooks):

$18,650,802

 

Prizes (Winnings paid to players):

$15,418,951

 

Hold (Handle less prizes paid):

$3,231,851 (17.3%)

 

Taxable Win (Amount remaining after paying winners and deducting promotional play and other amounts):

$3,185,601

 

Sports Wagering Tax (15% of the taxable win):

$477,840

 

The hold percentage for all wagers that were settled during August was 13.41%. Since the inception of the sports wagering program in December 2021, the hold percentage for settled wagers is 10.46%; sports wagering has contributed $3,659,082 to the Blueprint for Maryland’s Future Fund; and expired sports wagering prizes have contributed $496,189 to the Problem Gambling Fund.

 

MGM National Harbor, Live! Casino, Horseshoe Casino, Ocean Downs Casino and Hollywood Casino began their sportsbook operations during December 2021. Bingo World opened on Aug. 1. Riverboat on the Potomac reported revenue during August for its two controlled demonstrations dates and opened to the public on Sept. 8. Additional facilities are expected to open in the near future.

 

Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the state’s casinos and sports wagering program. In this role, the agency provides direction and guidance to its casino and sports wagering partners on financial, security, regulatory and licensing procedures. To keep Marylanders informed and to maintain transparency of casino and sports wagering operations, monthly financial reports are posted on mdgaming.com. Maryland Lottery and Gaming reminds players to play responsibly and within their budget; resources are available at mdgamblinghelp.org or by calling 1-800-GAMBLER.

Maryland Lottery and Gaming contributed $1.511 Billion to the State of Maryland in FY2022. Please play responsibly.

CONTACT: Carole Bober Gentry, Managing Director, Communications, (410) 230-8725, Carole.gentry@maryland.gov.

SOURCE: Maryland Lottery and Gaming.