Mobile sports betting apps, which account for the lion’s share of sports wagering in Maryland, handled $533.3 million in wagers in November, including almost $29 million in free promotional wagers.
Players do win, too.
Mobile betting apps and retail sportsbooks handled $550.7 million combined in wagers in November and paid out $509.1 million in prizes.
November’s sports betting handle was up 14% from October and set a monthly record high.
After paying out the prizes, mobile betting apps and retail sportsbooks had a combined taxable take of $21.3 million in November. They contribute 15% of taxable win each month to the state’s Blueprint for Maryland’s Future fund, which funds public education programs. The contribution to the fund in November was $3.2 million.
Since sports betting was legalized in Maryland in December 2021, the total contribution to the state has been $46.3 million. Sportsbooks also contribute expired or uncollected winnings to the state’s Problem Gambling Fund, which totals $2.7 million to date.
Legal sports betting launched in Maryland with just five retail locations. The first seven mobile sportsbooks were approved and launched in the state in November 2022.
Maryland now has 13 retail locations and 12 mobile sports betting app operators. Mobile sport betting accounts for about 95% of all sports wagers each month.
