BALTIMORE - Maryland’s seven wagering facilities combined to contribute $477,840 during August 2022 to the Blueprint for Maryland’s Future Fund, which supports public education programs, Maryland Lottery and Gaming announced Monday. Each sports wagering licensee contributes 15% of its taxable win to the state.
Details on each facility’s handle, hold percentage, taxable win, prizes, promotional play and contribution to the state are included in the attached chart and available at mdgaming.com.
Here are the statewide sports wagering totals for August 2022:
Handle (Amount players wagered, including promotional wagers provided to players by sportsbooks):
$18,650,802
Prizes (Winnings paid to players):
$15,418,951
Hold (Handle less prizes paid):
$3,231,851 (17.3%)
Taxable Win (Amount remaining after paying winners and deducting promotional play and other amounts):
$3,185,601
Sports Wagering Tax (15% of the taxable win):
$477,840
The hold percentage for all wagers that were settled during August was 13.41%. Since the inception of the sports wagering program in December 2021, the hold percentage for settled wagers is 10.46%; sports wagering has contributed $3,659,082 to the Blueprint for Maryland’s Future Fund; and expired sports wagering prizes have contributed $496,189 to the Problem Gambling Fund.
MGM National Harbor, Live! Casino, Horseshoe Casino, Ocean Downs Casino, and Hollywood Casino began their sportsbook operations during December 2021. Bingo World opened on Aug. 1.
Riverboat on the Potomac reported revenue during August for its two controlled demonstrations dates and opened to the public on Sept. 8.
Additional facilities are expected to open in the near future.