Maryland’s sports betting industry continues to thrive as it enters its second full month of mobile sports betting. The state’s vibrant gambling landscape, comprising 10 retail sportsbooks and seven mobile platforms, has reported impressive figures for January. The Maryland Lottery and Gaming Control Agency (MLGCA) released statistics that shed light on the substantial handle generated by both retail and mobile sportsbooks.
Mobile Handle Takes the Lead:
In January, Maryland’s sportsbooks collectively amassed a handle of $441.4 million, demonstrating the significant appetite for sports wagering in the state. Notably, mobile sports betting contributed a substantial portion to this figure, with a mobile handle of $422.6 million. It’s worth mentioning that this mobile handle includes $21.7 million attributed to free promotional play, which is subtracted from the taxable win. Retail bets, on the other hand, accounted for $18.8 million of the total handle.
Supporting State Programs:
The success of Maryland’s sports wagering industry has translated into meaningful contributions to the state. The figures reveal that Maryland’s sportsbooks generated $2.1 million in contributions to the state during January. Of this total, mobile wagering accounted for $1.8 million, while retail sportsbooks contributed $226,596. These contributions, equivalent to 15 percent of the taxable win, go toward the Blueprint for Maryland’s Future Fund, which supports crucial public education programs.
Continuous Growth and Expansion:
Maryland’s sports wagering market, launched in December 2021, has displayed remarkable growth within a short span. The addition of the 10th retail location on January 20, 2023 – the Maryland Stadium Sub/Fanatics Sportsbook at FedEx Field in Landover – underscores the industry’s expansion efforts. Furthermore, the mobile sports betting market commenced on November 23, and Long Shot’s/Betfred Sportsbook marked its entry on February 9, 2023, becoming the state’s eighth mobile sportsbook.
Maryland’s sports betting sector’s robust performance in January is a testament to the growing enthusiasm for sports wagering in the state. The combination of a thriving mobile handle, significant contributions to state programs, and continuous expansion efforts highlights the industry’s positive trajectory. As Maryland’s sports wagering landscape continues to evolve, it remains a key player in the broader US gambling market, offering both revenue potential and support for essential public initiatives.