Baltimore – Maryland’s sports betting industry continues to make a significant contribution to the state’s revenue, with April 2023 marking the second-highest monthly total to date. The combined efforts of the state’s 10 retail and nine mobile sportsbooks resulted in a total contribution of $3,864,686, which supports public education programs through the Blueprint for Maryland’s Future Fund.
According to the Maryland Lottery and Gaming Control Agency, the statewide handle for April reached an impressive $328,454,397. Mobile wagering accounted for the majority of the total, with $313,472,676, representing 95.4% of the handle. The mobile segment contributed $3,764,969 to the state’s funds, while retail sportsbooks added $99,716.
April also saw the introduction of a new player in the mobile sports betting market, as SuperBook launched its platform on April 13. SuperBook became Maryland’s ninth mobile operator, further expanding the range of options available to sports bettors in the state.
For those interested in a comprehensive breakdown of each sportsbook’s performance, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, a detailed summary can be downloaded from the official website. The Maryland Gaming Commission website, mdgaming.com, also offers access to previous months’ reports.
Let’s delve into the April 2023 statewide sports wagering totals:
Handle (Amount wagered, including promotional wagers):
- Retail: $14,981,720 (includes $15,434 in free promotional wagers)
- Mobile: $313,472,676 (includes $9,014,508 in free promotional wagers)
- Combined: $328,454,397
Prizes (Winnings paid to players):
- Retail: $14,097,933
- Mobile: $278,711,878
- Combined: $292,809,811
Hold (Handle less prizes paid):
- Retail: $883,788 (5.9%)
- Mobile: $34,760,798 (11.1%)
- Combined: $35,644,586 (10.9%)
Taxable Win (Amount remaining after deducting prizes, promotional wagers, and other amounts):
- Retail: $664,775
- Mobile: $25,099,796
- Combined: $25,764,571
Sports Wagering Tax (15% of the Taxable Win):
- Retail: $99,716
- Mobile: $3,764,969
- Combined: $3,864,686
Since Maryland’s sports wagering program was launched in December 2021, the cumulative contribution to the Blueprint for Maryland’s Future Fund has reached an impressive $20,655,942. Additionally, $1,891,241 in expired prizes has been contributed to the Problem Gambling Fund.
The sports wagering market in Maryland began with five retail locations in December 2021, followed by the launch of seven mobile sportsbooks in November 2022. As of the end of April 2023, Maryland boasts 10 retail locations and nine mobile operators. Excitingly, more retail locations and mobile sportsbooks are anticipated to launch in the near future, providing even more opportunities for sports enthusiasts and bettors across the state.
The success of Maryland’s sports betting industry highlights its potential as a robust source of revenue for the state while simultaneously supporting essential education programs. With the continual growth of the market and the entry of new operators, the future of sports wagering in Maryland appears bright, promising continued financial benefits for the state’s educational initiatives.