Sports Wagering Contributes $440,043 to the State of Maryland During December
The first full month of mobile sports wagering handle totaled $478.3 million
Baltimore, Maryland (January 10, 2023) — Maryland’s nine retail and seven mobile sportsbooks combined for $497,121,656 in the handle and generated $440,043 in contributions to the state during December 2022. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.
December was Maryland’s first full month of mobile sports wagering, as the seven mobile sportsbooks currently operating all launched on November 23. The mobile handle in December was $478,270,326. That amount included $70,939,973 in free promotional play provided to customers by sportsbooks, which is deducted from the taxable win. As a result, mobile wagering accounted for $44,791 in contributions to the state, and retail sportsbooks contributed $395,252.
Maryland’s sportsbooks do not have a limit on promotional play deductions in their first full fiscal year of operation. Thereafter, promotional play deductions are capped at 20% of the prior year’s taxable win.
A detailed summary of each sportsbook, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, is included in the attached chart and available for download at mdgaming.com.
Here are the statewide sports wagering totals for December 2022:
Handle (Amount players wagered, including free promotional wagers)
- Retail: $18,851,329 (includes $67,469 in free promotional wagers)
- Mobile: $478,270,326 (includes $70,939,973 in free promotional wagers)
- Combined: $497,121,656
Prizes (Winnings paid to players)
- Retail: $15,986,035
- Mobile: $395,966,817
- Combined: $411,952,852
Hold (Handle less prizes paid)
- Retail: $2,865,295 (15.2%)
- Mobile: $82,303,509 (17.2%)
- Combined: $85,168,804 (17.1%)
Taxable Win (Amount remaining after deducting prizes, promotional play and other amounts)
- Retail: $2,635,010
- Mobile: $298,609
- Combined: $2,933,619
Sports Wagering Tax (15% of the taxable win)
- Retail: $395,252
- Mobile: $44,791
- Combined: $440,043
Since the inception of Maryland’s sports wagering program in December 2021:
- Cumulative contribution to the Blueprint for Maryland’s Future Fund: $6,569,803
- Cumulative expired prizes contributed to the Problem Gambling Fund: $1,200,869
Maryland’s sports wagering market launched in December 2021 and currently includes nine retail locations and seven mobile sportsbook operators. Additional retail locations and mobile sportsbooks are expected to launch in the near future.
About Maryland Lottery and Gaming
Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the state’s casinos and sports wagering program. In its regulatory role, the agency provides direction and guidance to casino and sports wagering operators 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 strongly encourage responsible play. Maryland residents can obtain confidential help with a gambling problem at no cost by calling 1-800-GAMBLER or visiting mdgamblinghelp.org.
SOURCE: Maryland Lottery and Gaming.Maryland’s Future Fund, Maryland Lottery and Gaming, mobile sports wagering, mobile sportsbooks