Sports wagering handle in December totaled $16.5 million

Per MD Gaming:

(Baltimore) – Maryland’s first five sports wagering facilities opened for business during December 2021 and contributed $469,297 to the Blueprint for Maryland’s Future Fund, which supports a variety of public education programs. Each sports wagering licensee contributes 15% of its taxable win to the state.

“We are truly excited that sports wagering is available, and we’re eager to do our part to keep the market growing,” said Maryland Lottery and Gaming Director John Martin.

Details on each facility’s handle, hold percentage, taxable win, prizes, promotional play and contribution to the State of Maryland are available by clicking the link above.

Here are the statewide sports wagering totals for December 2021:

Handle (The amount players wagered, including promotional wagers provided to players by sportsbooks):
$16,552,430

Prizes (Winnings paid to players):
$13,382,430

Hold (Handle less prizes paid):
$3,170,000, or 19.2%

Taxable Win (Amount remaining after paying winners and deducting promotional play and other amounts):
$3,128,660

Sports Wagering Tax (15% of the taxable win):
$469,297

The five sports wagering facilities operating in December and their opening dates were MGM National Harbor (opened Dec. 9); Live! Casino & Hotel (opened Dec. 10); Horseshoe Casino (opened Dec. 10); Ocean Downs Casino (opened Dec. 17); and Hollywood Casino (opened Dec. 23). Additional facilities are expected to open in the near future.

Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the state’s casinos and sports wagering program. In this role, the agency provides direction and guidance to its casino and sports wagering partners 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 reminds players to play responsibly and within their budget; resources are available at mdgamblinghelp.org or by calling 1-800-426-2537.

Governor Larry Hogan placed the first official sports bet at MGM Grand during a betting preview on Thursday, betting on the Baltimore Ravens and Washington Football Team to make it to the Super Bowl.

He placed the first official sports bet at Maryland Live on Friday, going with underdog Navy (located in Maryland) to defeat Army in the annual Army/Navy game. He won that bet, and will donate his winnings to the Maryland Food Bank.

Later on Friday, he placed one of the first bets at Horseshoe Casino in Baltimore, betting on Maryland to defeat Virginia Tech in the upcoming Pinstripe Bowl.

“Today marks the culmination of more than a year of effort to get sports betting up and running here in the State of Maryland,” said Governor Hogan. “In addition to allowing Marylanders to bet on the NFL, March Madness, and so much more, sports betting will also help to keep more dollars in-state and will provide another critical revenue source for public education.”

After a referendum was approved by Maryland voters, HB 940 was passed by the Maryland General Assembly and signed into law by Governor Hogan last May, which officially legalized sports betting in the State of Maryland.

A total of seven facilities have been awarded licenses so far, which are among the 17 entities that were designated in the sports wagering law. Additional locations and the launch of mobile sports wagering are anticipated in the coming year.

Maryland’s sportsbooks will contribute 15% of their revenue to education in the state. This is in addition to the casino lockbox initiative enacted by Governor Hogan, which requires a further investment of $4.4 billion more for Maryland schools.

No word yet on when Marylanders will be able to use sports betting apps in-state.

Earlier today Governor Hogan tweeted his support to get sports gambling started in Maryland, “We are pleased that the legislature’s sport wagering commission has finally acted to approve these licenses.

Our administration will continue to work to get sports betting up and running in Maryland as quickly as possible.”

Per The Baltimore Sun, The Sports Wagering Application Review Commission gave its blessing to Horseshoe Casino in Baltimore, Live! Casino & Hotel in Hanover, Hollywood Casino in Perryville, MGM National Harbor in Oxon Hill and Ocean Downs Casino in Berlin.

Governor Hogan signed legislation to legalize sports betting in Maryland earlier this year in May.

It is estimated that sports betting will generate close to $20 million annually, the majority of which would go towards education.