In October 2023, Maryland’s sports wagering market achieved its highest-ever monthly performance, generating more than $5.8 million in contributions to the state.
To be exact, Maryland gamblers contributed $5,812,245 through 25 sportsbooks, including 13 retail and 12 mobile.
Each sportsbook is required to contribute 15% of each taxable win to the Blueprint for Maryland’s Future Fund, which supports public education initiatives. In the first four months of Fiscal Year 2024 (July 2023 through October 2023), sports wagering contributed more than $14.9 million to the Blueprint for Maryland’s Future Fund.
October marked a historic milestone, surpassing the previous record set in March 2023 by 9.5% and reaching a total of $5,812,245 in contributions to the state.
The handle, meaning the total amount of money wagered by Maryland bettors, for October reached $483,147,391, with 95.9% attributed to mobile handle, amounting to $463,502,423. Mobile bets provided $5,501,528 in contributions to the state, while retail sportsbooks added $310,717 to the total.
The October handle was the second-highest single-month total in Maryland’s sports wagering history, trailing only December 2022, which reached $497,121,656.
Maryland Lottery and Gaming Director John Martin attributed the heightened activity to the popularity of football betting during this time of the year. The success of the Ravens and college football played significant roles, and the convergence of various sports seasons in October, including baseball playoffs, the World Series, and the start of hockey and basketball, contributed to the overall robust market in Maryland.
Comprehensive insights into the performance of each sportsbook in October 2023 are provided in the attached chart, featuring key metrics such as handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state. Additionally, a summary of statewide handle and hold categorized by sport is outlined in the chart.Â
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:Â $2,651,628
