Maryland Sports Wagering Hits Record $550.7M Handle in November

Statewide handle surpasses $550 million.

Maryland’s 13 retail and 12 mobile sportsbooks generated $3,199,529 in contributions to the State. Each sportsbook contributes 15 percent of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

The statewide handle (amounts players wagered, including free promotional wagers) of $550,716,329 was Maryland’s largest single-month total, surpassing the $497,121,656 wagered in December 2022.

Mobile handle accounted for 96.8 percent of the total at $420,957,789. Mobile wagering delivered $3,052,509 in contributions during November, while retail sportsbooks contributed $147,020.

Source: Maryland Lottery and Gaming

 

Maryland Lottery and Gaming now provides monthly sport-specific handle figures. In November, US professional basketball wagers represented 15.3 percent of all wagering at $84.2 million. Professional football accounted for 15 percent of wagers at 82.4 million.

Parlay bets of two or more combined wagers accounted for $201 million, or nearly 36.5 percent of all bets. The combination wagers were among the most profitable for sportsbooks during the month. Operators posted a 13 percent hold on parlay bets.

Here are the statewide sports wagering totals for November 2023:

Handle (Amount players wagered, including free promotional wagers)

  • Retail: $17,439,542 (includes $16,016 in free promotional wagers)
  • Mobile: $533,276,787 (includes $28,649,664 in free promotional wagers)
  • Combined: $550,716,329

Prizes (Winnings paid to players)

  • Retail: $18,928,968
  • Mobile: $337,945,774
  • Combined: $396,874,742

Hold (Handle, less prizes paid)

  • Retail: $1,131,614 (6.5%)
  • Mobile: $40,497,369 (7.6%)
  • Combined: $41,628,982 (7.6%)

Taxable Win (Amount remaining after deducting prizes, promotional wagers, and other amounts)

  • Retail: $980,134
  • Mobile: $20,350,060
  • Combined: $21,330,194

Sports Wagering Tax (15 percent of the Taxable Win)

  • Retail: $147,020
  • Mobile: $3,052,509
  • Combined: $3,199,529

Since the inception of Maryland’s sports wagering program in December 2021:

  • Cumulative contribution to the Blueprint for Maryland’s Future Fund: $46,253,210
  • Cumulative expired prizes contributed to the Problem Gambling Fund: $2,708,307

In 2020, Maryland voters approved a constitutional amendment to expand commercial gaming by authorizing sports and events wagering to raise revenue for education. A detailed summary of each sportsbook, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the State, is available for download from the link above. Prior months’ reports are available at mdgaming.com.