On Feb. 10, the Maryland Lottery and Gaming Control Agency(MLGCA) released January’s figures for sports betting in the state. Ten retail and seven Maryland online sportsbooks accepted $441.5 million in bets last month.
The majority, $422.6 million, came from online sports betting.
While these figures represent an 11.2% decline from December, the $59.6 million revenue signifies a 13.5% increase.
Maryland collects over $2.1 million in taxes
Maryland operators generated $2,114,613 in contributions to the Old Line State throughout January 2023.
Maryland’s betting handle of $422.6 million included $21.8 million in free promotional play provided to customers by sportsbooks. The state deducted that amount from the taxable win.
Online sports betting accounted for $1,888,017 in contributions to the state, while retail sportsbooks contributed $226,596.
Maryland’s sportsbooks do not have a limit on promotional play deductions during their first full fiscal year of operation. Then, promotional play deductions equal 20% of the prior year’s taxable win.
Each sportsbook gives 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs. Since Maryland’s sports betting program launched in December 2021, the Blueprint for Maryland’s Future Fund received $8,684,319.
Furthermore, cumulative expired prizes contributed $1,288,466 to the Problem Gambling Fund.
Top Maryland online sportsbooks and retailers
According to the MLGCA’s report, the top online sportsbooks in Maryland were:
- FanDuel (Live! Casino), generating $208.9 million in the betting handle
- DraftKings, with a $131.9 million handle
- BetMGM receiving $40.7 million in bets
As for the retail operators, MGM National Harbor was the most successful, gaining $7.3 million in bets. Maryland Live! Casino was next with a little over $6 million. Horseshoe Casino followed with $2.1 million.
Maryland betting handle reaches $1.09 billion since its November launch
Since Maryland launched online sports betting in November 2022, players gambled $1,087,012,776 with the state’s sportsbooks.
Maryland’s sports betting market launched in December 2021 with five retail sportsbooks. The state added its tenth retail location on Jan. 20, 2023. It was when the Fanatics opened its retail location at FedEx Field, home of Washington Commanders, in Landover.
Betfred Sportsbook at Long Shot’s launched on Feb. 9, 2023, becoming the state’s eighth online sportsbook. Several more retail locations and mobile sportsbooks are expected to go live soon.
