Maryland Lottery and Gaming’s latest revenue report shows that the state’s first full month of mobile sports betting saw online sportsbooks accept over $478.2 million in wagers.
State taxes from mobile sportsbooks amounted to just $44,791
December was the state’s first full month of online sports betting following the industry launch on November 23rd, 2022. In total, the state’s nine retail and seven online sportsbooks accepted $497.1 million in wagers.
The report shows that of the overall Maryland sports betting mobile handle, $70.9 million was free promotional play which was deducted from the final taxable figure. As a result, mobile sportsbooks contributed $44,791 in contributions to the state. Meanwhile retail sportsbooks contributed $395,252 for a total of $440,043 in taxes for the month of December.
There is currently no limit on promotional play deduction for the first year of operation for all sportsbooks. However, from the second year of operation, promotional play deductions will be capped at 20% of the previous year’s taxable win.
Winnings paid out to retail bettors amounted to $15,986,035. Winnings paid to mobile bettors amounted to $395,966,817. This resulted in a combined hold (wagers less prizes paid) of 17.1%.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.