Maryland sports betting market hits record high for month of October

Maryland’s sports wagering market had its best month in October, as the 13 retail and 12 mobile sportsbooks combined to generate a single-month record of over $5.8 million in contributions to the state.

The statewide handle for October 2023 totaled $483,147,391. Mobile betting made $5,501,528 in contributions to the state during October, while retail sportsbooks contributed $310,717.

“People love to bet on football, and that is certainly reflected in the handle this time of year,” Maryland Lottery and Gaming Director John Martin said in a news release. “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. From an overall perspective, the results show that a robust market has taken shape here in Maryland and is making a steady contribution to the state’s education programs.”  

I LISTEN:WBAL’s Robert Lang speaks with John Martin of the Maryland Lottery

Here are the statewide sports wagering totals for October 2023:

Handle (Amount players wagered, including free promotional wagers):

• Retail: $19,644,968 (includes $9,252 in free promotional wagers)
• Mobile: $463,502,423 (includes $19,368,480 in free promotional wagers)
• Combined: $483,147,391

Prizes (Winnings paid to players):

• Retail: $17,670,331
• Mobile: $406,775,150
• Combined: $424,445,481

Hold (Handle-less prizes paid):

• Retail: $1,974,636 (10.1%)
• Mobile: $56,727,273 (12.2%)
• Combined: $58,701,910 (12.1%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers and other amounts):

• Retail: $2,071,445
• Mobile: $36,676,856
• Combined: $38,748,301

Sports Wagering Tax (15% of the Taxable Win):

• Retail: $310,717
• Mobile: $5,501,528
• Combined: $5,812,245

Since the inception 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 launched with five retail locations in December 2021. The first seven mobile sportsbooks launched in November 2022.