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Maryland sports wagering contributes $2.6 million to state in August

11 September 2023

(PRESS RELEASE) -- Maryland’s 12 retail and 12 mobile sportsbooks that operated during August 2023 combined to generate $2,555,671 in contributions to the state, according to the Maryland Lottery and Gaming Control Agency. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

Statewide handle in August totaled $263,729,559, with mobile handle accounting for 94.9% of the total at $250,360,244. Mobile wagering delivered $2,457,709 in contributions to the state during August, while retail sportsbooks contributed $97,962.

The state’s sports wagering market added two new retail sportsbooks that conducted their controlled demonstration dates during the last week of August. Canton Gaming and its operator partner Parx Interactive held controlled demonstrations at The Greene Turtle in Canton on Aug. 28 and Aug. 30 and opened on Sept. 1. Whitman Gaming and its operator partner FanDuel held controlled demonstrations at Sports & Social in North Bethesda on 29 August, 31 August, and opened on 2 September.

Controlled demonstrations require sportsbook operators to conduct live wagering and must be successfully completed before Maryland Lottery and Gaming issues the sportsbooks their licenses to operate. Revenue from the Canton Gaming and Whitman Gaming controlled demonstration dates is included in the August revenue report.

A detailed summary of each sportsbook’s August 2023 results, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, along with a summary of statewide handle and hold by sport is included in the attached chart and available for download at mdgaming.com.

Here are the statewide sports wagering totals for August 2023:

Handle (Amount players wagered, including free promotional wagers)
  • Retail: $13,369,315 (includes $700 in free promotional wagers)
  • Mobile: $250,360,244 (includes $8,147,569 in free promotional wagers)
  • Combined: $263,729,559

Prizes (Winnings paid to players)
  • Retail: $12,894,973
  • Mobile: $225,933,949
  • Combined: $238,828,922

Hold (Handle less prizes paid)
  • Retail: $474,342 (3.5%)
  • Mobile: $24,426,295 (9.8%)
  • Combined: $24,900,637 (9.4%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts)
  • Retail: $653,079
  • Mobile: $16,384,725
  • Combined: $17,037,804

Sports Wagering Tax (15% of the Taxable Win)
  • Retail: $97,962
  • Mobile: $2,457,709
  • Combined: $2,555,671

Since the inception of Maryland’s sports wagering program in December 2021:
  • Cumulative contribution to the Blueprint for Maryland’s Future Fund: $34,010,008
  • Cumulative expired prizes contributed to the Problem Gambling Fund: $2,517,180

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 August 2023, there were 12 retail locations and 12 mobile operators. Additional retail locations and mobile sportsbooks are expected to launch in the near future.

< Gaming News

Maryland sports wagering contributes $2.6 million to state in August is republished from iGamingNews.com.