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Maryland's first full month of mobile wagering handle totals $478 million11 January 2023(PRESS RELEASE) -- Maryland’s nine retail and seven mobile sportsbooks combined for $497,121,656 in 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 23 November. 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 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. |