Over $483 Million Waged by Sportsbooks Last Month in Maryland

A total of $483.1 million was waged in Maryland during the month of October through online/mobile and in-person sportsbooks, which generated $5,812,245 in contributions to the state . Montgomery County’s first sportsbook opened at Sports & Social (11800 Grand Park Ave) in Pike & Rose opened in September. Full details below courtesy of the Maryland Lottery:

“Maryland’s sports wagering market had the best month in its history in October 2023, with the 13 retail and 12 mobile sportsbooks combining to generate $5,812,245 in contributions to the state. Each sportsbook pays 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs. Statewide handle in October totaled $483,147,391, with mobile handle accounting for 95.9% of the total at $463,502,423. Mobile wagering delivered $5,501,528 in contributions to the state during October, while retail sportsbooks contributed $310,717.

The October 2023 contribution to the state was the best single-month total by a margin of 9.5%, surpassing the $5,310,057 generated in March 2023. October’s handle was Maryland’s second-best single-month total, trailing only December 2022 ($497,121,656). Through the first four months of Fiscal Year 2024 (July 2023 through October 2023) sports wagering has contributed more than $14.9 million to the Blueprint for Maryland’s Future Fund.

“People love to bet on football, and that is certainly reflected in the handle this time of year,” said Maryland Lottery and Gaming Director John Martin. “The Ravens’ success and college football are contributing factors, and there is a convergence of the seasons in October, with the baseball playoffs and World Series and the start of hockey and basketball. From an overall perspective, the results show that a robust market has taken shape here in Maryland and is making a steady contribution to the state’s education programs.”

A detailed summary of each sportsbook’s October 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 October 2023:

Handle (Amount players wagered, including free promotional wagers)

·         Retail: $19,644,968 (includes $9,252 in free promotional wagers)

·         Mobile: $463,502,423 (includes $19,368,480 in free promotional wagers)

·         Combined: $483,147,391

Prizes (Winnings paid to players)

·         Retail: $17,670,331

·         Mobile: $406,775,150

·         Combined: $424,445,481

Hold (Handle less prizes paid)

·         Retail: $1,974,636 (10.1%)

·         Mobile: $56,727,273 (12.2%)

·         Combined: $58,701,910 (12.1%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts)

·         Retail: $2,071,445

·         Mobile: $36,676,856

·         Combined: $38,748,301

Sports Wagering Tax (15% of the Taxable Win)

·         Retail: $310,717

·         Mobile: $5,501,528

·         Combined: $5,812,245

Since the inception of Maryland’s sports wagering program in December 2021:

·         Cumulative contribution to the Blueprint for Maryland’s Future Fund:  $43,053,680

·         Cumulative expired prizes contributed to the Problem Gambling Fund:  $2,651,628

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 October 2023, there were 13 retail locations and 12 mobile operators. Additional retail locations and mobile sportsbooks are expected to launch in the near future.