BALTIMORE - Maryland’s seven wagering facilities combined to contribute $984,308 during September 2022 to the Blueprint for the state's future fund, which supports public education programs. Each sports wagering licensee contributes 15% of its taxable win to the state, according to Maryland Lottery & Gaming, which oversees the state's sports wagering facilities.
Here are the statewide sports wagering totals for September 2022:
Handle (Amount players wagered, including promotional wagers provided to players by sportsbooks):
$31,376,072
Prizes (Winnings paid to players):
$24,736,296
Hold (Handle less prizes paid):
$6,639,776 (21.2%)
Taxable Win (Amount remaining after paying winners and deducting promotional play and other amounts):
$6,562,053
Sports Wagering Tax (15% of the taxable win):
$984,308
The hold percentage for all wagers that were settled during September was 17.58%. Since the inception of the sports wagering program in December 2021, the hold percentage for settled wagers is 11.36%; sports wagering has contributed $4,643,390 to the Blueprint for Maryland’s Future Fund; and expired sports wagering prizes have contributed $723,372 to the Problem Gambling Fund.
Maryland’s sports wagering market launched in December 2021 with the opening of five retail sportsbooks. Two other retail locations have opened in 2022, and additional retail locations and mobile sportsbooks are expected to launch in the near future.