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Maryland sports wagering turns in its best month in March

10 Apr 2023

(PRESS RELEASE) -- Maryland’s growing sports wagering market had its best month in March 2023, as the 10 retail and eight mobile sportsbooks combined to generate a single-month record of $5,310,057 in contributions to the state.

The return to the state in March was 89.9% more than the previous high of $2,796,880 in February. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

“There are a few events on the calendar that really drive sports wagering participation, and the NCAA basketball tournament every March is right at the top of that list,” said Maryland Lottery and Gaming Director John Martin. “This was the first time that mobile wagering on March Madness was available in Maryland, and as our market continues to mature, we’re pleased to see it generate a strong contribution to education funding.”

Statewide handle in March totaled $385,967,195, with mobile handle accounting for 95.9% of the total at $370,290,622. Mobile wagering accounted for $5,111,105 in contributions to the state during March, while retail sportsbooks contributed $198,953.

A detailed summary of each sportsbook, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, is available for download at mdgaming.com.

Here are the statewide sports wagering totals for March 2023:

Handle (Amount players wagered, including free promotional wagers)
  • Retail: $15,676,573 (includes $12,407 in free promotional wagers)
  • Mobile: $370,290,622 (includes $11,382,730 in free promotional wagers)
  • Combined: $385,967,195

Prizes (Winnings paid to players)
  • Retail: $14,502,733
  • Mobile: $323,916,148
  • Combined: $338,418,882

Hold (Handle less prizes paid)
  • Retail: $1,173,840 (7.5%)
  • Mobile: $46,374,474 (12.5%)
  • Combined: $47,548,313 (12.3%)

Taxable Win (Amount remaining after deducting prizes, promotional play and other amounts)
  • Retail: $1,326,350
  • Mobile: $34,074,030
  • Combined: $35,400,380

Sports Wagering Tax (15% of the Taxable Win)
  • Retail: $198,953
  • Mobile: $5,111,105
  • Combined: $5,310,057

Since the inception of Maryland’s sports wagering program in December 2021:
  • Cumulative contribution to the Blueprint for Maryland’s Future Fund: $16,791,257
  • Cumulative expired prizes contributed to the Problem Gambling Fund: $1,611,570

Maryland’s sports wagering market launched with five retail locations in December 2021. The first seven mobile sportsbooks launched in November 2022. As of the end of March 2023, there were 10 retail locations and eight mobile operators. Additional retail locations and mobile sportsbooks are expected to launch in the near future.
 
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