Maryland’s sports wagering market experienced unprecedented success in October 2023, marking its best month. 13 retail and 12 mobile sportsbooks contributed an impressive $5,812,245 to the state, setting a new record. The funds generated from each sportsbook, comprising 15% of its taxable win, will be directed to the Blueprint for Maryland’s Future Fund, supporting essential public education programs.
The statewide handle for October reached an impressive $483,147,391, with mobile wagering dominating the landscape, accounting for 95.9% of the total at $463,502,423. Mobile sportsbooks substantially contributed $5,501,528 to the state, while retail sportsbooks added $310,717 to the record-breaking October total.
This exceptional monthly contribution surpasses the previous record set in March 2023 by 9.5%, establishing October 2023 as the pinnacle in Maryland’s sports wagering history. The overall handle for the month, amounting to $483,147,391, ranks second-highest in a single month, trailing only December 2022’s $497,121,656. Notably, the first four months of Fiscal Year 2024 (July 2023 through October 2023) have seen sports wagering contribute over $14.9 million to the Blueprint for Maryland’s Future Fund.
Maryland Lottery and Gaming Director John Martin attributed this success to the enthusiasm for football betting this season. “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,” Martin stated. He emphasized that the robust market in Maryland is consistently making a significant contribution to the state’s education programs.
Detailed summaries of each sportsbook’s October 2023 results, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, are available for download. The comprehensive report also includes a summary of statewide handling and holding by sport, accessible on the official Maryland Gaming website.
Here are the statewide sports wagering totals for October 2023:
- Retail Handle: $19,644,968
- Mobile Handle: $463,502,423
- Combined Handle: $483,147,391
- Retail Prizes: $17,670,331
- Mobile Prizes: $406,775,150
- Combined Prizes: $424,445,481
- Retail Hold: $1,974,636 (10.1%)
- Mobile Hold: $56,727,273 (12.2%)
- Combined Hold: $58,701,910 (12.1%)
- Retail Taxable Win: $2,071,445
- Mobile Taxable Win: $36,676,856
- Combined Taxable Win: $38,748,301
- Sports Wagering Tax: $5,812,245 (Combined)
Since the launch 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, which started with five retail locations in December 2021, has expanded significantly. As of October 2023, there are now 13 retail locations and 12 mobile operators, with expectations for additional launches soon. The industry continues to demonstrate substantial growth, making a lasting impact on the state’s educational initiatives.
