SPORTS BETTING
US – Maryland’s first full month of mobile betting brings handle of $478m
By Phil - 12 January 2023
Maryland’s nine retail and seven mobile sportsbooks combined for $497,121,656 in handle and generated $440,043 in contributions to the state during December 2022.
Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.
December was Maryland’s first full month of mobile sports wagering, as the seven mobile sportsbooks currently operating all launched on 23 November. Mobile handle in December was $478,270,326. That amount included $70,939,973 in free promotional play provided to customers by sportsbooks, which is deducted from the taxable win. As a result, mobile wagering accounted for $44,791 in contributions to the state, and retail sportsbooks contributed $395,252.
Maryland’s sportsbooks do not have a limit on promotional play deductions in their first full fiscal year of operation. Thereafter, promotional play deductions are capped at 20 per cent of the prior year’s taxable win.
