Baltimore, MD – Maryland’s sports betting industry continues to thrive as retail and mobile sportsbooks combined to contribute a total of $4,650,711 to the state in May 2023. This figure represents the second-highest monthly total since the launch of Maryland’s sports wagering program. Under the Blueprint for Maryland’s Future Fund, each sportsbook contributes 15% of its taxable win to support public education programs.
According to the Maryland Gaming Commission, the statewide handle for May reached an impressive $320,199,671, with mobile wagers accounting for the majority at $305,063,591, which is approximately 95.3% of the total. Mobile sportsbooks contributed $4,439,703 to the state during May, while retail sportsbooks added $211,009 to the revenue.
During the month of May, Maryland welcomed a new mobile licensee, Maryland Stadium Sub, and its operator, Fanatics Sportsbook. On May 30, they conducted a controlled demonstration, and although the license was issued on June 1, the wagering activity during the demonstration is included in the statewide totals for May. With Fanatics Sportsbook entering the market, Maryland now boasts ten mobile sportsbook operators.
The Maryland Gaming Commission has made available a comprehensive report on each sportsbook, providing details on the handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state. The report can be downloaded from the commission’s website, with previous monthly reports also accessible.
Here are the statewide sports wagering totals for May 2023:
- Retail Handle: $15,136,080 (including $20,281 in free promotional wagers)
- Mobile Handle: $305,063,591 (including $10,894,943 in free promotional wagers)
- Combined Handle: $320,199,671
- Retail Prizes: $13,550,937
- Mobile Prizes: $263,906,518
- Combined Prizes: $277,457,454
- Retail Hold: $1,585,144 (10.5% hold percentage)
- Mobile Hold: $41,157,073 (13.5% hold percentage)
- Combined Hold: $42,742,217 (13.3% hold percentage)
- Retail Taxable Win: $1,406,723
- Mobile Taxable Win: $29,598,020
- Combined Taxable Win: $31,004,743
- Retail Sports Wagering Tax: $211,009
- Mobile Sports Wagering Tax: $4,439,703
- Combined Sports Wagering Tax: $4,650,711
Since the inception of Maryland’s sports wagering program in December 2021, the Blueprint for Maryland’s Future Fund has received a cumulative contribution of $25,306,654. Additionally, $2,102,783 in expired prizes have been contributed to the Problem Gambling Fund.
Maryland’s sports betting market began with five retail locations in December 2021, followed by the launch of seven mobile sportsbooks in November 2022. As of May 2023, the state has ten retail locations and ten mobile operators. The industry continues to grow, and more retail sites and mobile sportsbooks are expected to launch shortly, further expanding the options available to Maryland bettors.
For more information and access to the detailed reports, visit the Maryland Gaming Commission’s official website at mdgaming.com.
