Sports Wagering Contributes $2.8 Million to the State During February
Statewide handle totalled $339.4 million
Baltimore, Maryland (March 11, 2023) — Maryland’s 10 retail and eight mobile sportsbooks combined for $339,421,546 in the handle and generated $2,796,880 in contributions to the state during February 2023. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.
The mobile handle in February was $325,078,708. That amount included $15,810,783 in free promotional play provided to customers by sportsbooks, which is deducted from the taxable win. Mobile wagering accounted for $2,698,767 in contributions to the state, while retail sportsbooks contributed $98,114.
Maryland’s sportsbooks do not have a limit on promotional play deductions in their first full fiscal year of operation. 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 February 2023:
Handle (Amount players wagered, including free promotional wagers)
- Retail: $14,342,838
- Mobile: $325,078,708 (includes $15,810,783 in free promotional wagers)
- Combined: $339,421,546
Prizes (Winnings paid to players)
- Retail: $13,797,368
- Mobile: $285,409,534
- Combined: $299,206,901
Hold (Handle – less prizes paid)
- Retail: $545,471 (3.8%)
- Mobile: $39,669,174 (12.2%)
- Combined: $40,214,644 (11.8%)
Taxable Win (Amount remaining after deducting prizes, promotional play and other amounts)
- Retail: $654,091
- Mobile: $17,991,778
- Combined: $18,645,869
Sports Wagering Tax (15% of the Taxable Win)
- Retail: $98,114
- Mobile: $2,698,767
- Combined: $2,796,880
Since the inception of Maryland’s sports wagering program in December 2021:
- Cumulative contribution to the Blueprint for Maryland’s Future Fund: $11,481,200
- Cumulative expired prizes contributed to the Problem Gambling Fund: $1,385,899
Maryland’s sports wagering market launched with five retail locations in December 2021. The first seven mobile sportsbooks launched in November 2022. As of the end of February 2023, there were 10 retail locations and eight mobile 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.Tags: Maryland Lottery and Gaming, Sports Wagering