Maryland’s sports betting landscape witnessed a total of over $442 million in wagers in September, according to a report from the Maryland Lottery and Gaming Control Agency. This amount reflects the collective wagers placed both through mobile apps and at sports betting parlors.
Nearly 95% of the total money wagered in sports occurred through mobile applications. The remaining 5% of the bets were placed at physical sports betting locations. Maryland stands to gain a share of $3.2 million from the vast sum of $442 million.
Industry analysts have indicated that football season generated the most significant share of bets in the sports betting arena. Football, with its fervent following, accounted for the lion’s share of the wagers.
However, 13% of the bets placed in September were related to baseball. This unusual spike is attributed to the Baltimore Orioles’ unexpected postseason run, which caught the attention of many sports bettors.
Maryland’s sports betting system includes a structure where each sportsbook contributes 15% of its earnings to the Blueprint for Maryland’s Future Fund. This arrangement enables the state to benefit from the revenue generated by sports betting activities.
Here are the statewide sports wagering totals for September 2023.
Handle (Amount players wagered, including free promotional wagers):
- Retail: $21,492,877 (including $29,190 in free promotional wagers)
- Mobile: $420,957,789 (including $23,953,299 in free promotional wagers)
- Combined: $442,450,666
Prizes (Winnings paid to players):
- Retail: $18,928,968
- Mobile: $337,945,774
- Combined: $396,874,742
Hold (Handle less prizes paid):
- Retail: $2,563,908 (11.9%)
- Mobile: $43,012,015 (10.2%)
- Combined: $45,575,923 (10.3%)
Taxable Win (Amount remaining after deducting prizes, promotional wagers, and other amounts):
- Retail: $2,285,730
- Mobile: $19,257,119
- Combined: $21,542,849
Sports Wagering Tax (15% of the Taxable Win):
- Retail: $342,859
- Mobile: $2,888,568
- Combined: $3,231,427
Since Maryland’s sports wagering program was launched in December 2021, it has made a cumulative contribution of $37,241,435 to the Blueprint for Maryland’s Future Fund. Additionally, $2,580,684 has been contributed to the Problem Gambling Fund through expired prizes.
Original article: https://www.yogonet.com/international/noticias/2023/10/11/69174-maryland-sees-442m-sports-betting-handle-in-september-driven-by-the-new-football-season
