(Baltimore) – In July 2023, Maryland’s burgeoning sports wagering sector, comprising 10 retail and 11 mobile sportsbooks, collectively contributed $3,312,633 to the state’s education fund.
These sportsbooks channel 15% of their taxable win into the Blueprint for Maryland’s Future Fund, a fund established to bolster public education programs in the state.
The statewide handle for July stood at a staggering $247,412,348. Of this amount, a dominating 96% or $237,525,908 came from mobile wagering alone, channeling contributions totaling $3,081,264 to the state. On the other hand, retail sportsbooks added $231,369 to the state’s coffers.
July witnessed an expansion in the state’s sports wagering market with the introduction of Crab Sports, partnered with iGaming Cloud. They launched on July 13, marking the inauguration of the state’s 11th mobile sportsbook.
Further, in its recent move, the Maryland Lottery and Gaming Control Commission awarded a mobile sports wagering license to Greenmount Station in collaboration with its operational partner, Parx Interactive. Greenmount Station’s mobile platform, betParx, had a successful controlled demonstration on August 8 and commenced operations the same day.
For those seeking in-depth data, including handle, hold percentage, prizes paid, promotional play, taxable win, and each sportsbook’s contributions to the state for July 2023, a detailed summary is accessible through the provided link. Reports from previous months are also available at mdgaming.com.
July 2023 Sports Wagering Figures:
- Handle:
- Retail: $9,886,440
- Mobile: $237,525,908 (inclusive of $5,629,882 in promotional wagers)
- Combined: $247,412,348
- Prizes:
- Retail: $8,314,217
- Mobile: $210,983,610
- Combined: $219,297,827
- Hold:
- Retail: $1,572,223 (15.9%)
- Mobile: $26,542,297 (11.2%)
- Combined: $28,114,521 (11.4%)
- Taxable Win:
- Retail: $1,542,462
- Mobile: $20,541,757
- Combined: $22,084,219
- Sports Wagering Tax (15% of Taxable Win):
- Retail: $231,369
- Mobile: $3,081,264
- Combined: $3,312,633
Since its launch in December 2021, the Maryland sports wagering program has contributed $31,454,337 to the Blueprint for Maryland’s Future Fund. Expired prizes worth $2,383,341 have also been dedicated to the Problem Gambling Fund.
Maryland initiated its sports wagering market in December 2021, debuting with five retail outlets. The subsequent year saw the launch of the first seven mobile sportsbooks in November 2022. As July 2023 wrapped up, the state boasted 10 retail sites and 11 mobile operators. And this number is projected to rise as more outlets and mobile sportsbooks are slated to commence operations in the foreseeable future.
