Md. Sportsbook Facilities Contribute $644K to the State in First Full Month of Operations – WBOC TV 16

BALTIMORE- Marylands first five sports wagering facilities completed their first full month of operations inJanuary 2022and combined to contribute $644,098 to the Blueprint for Marylands Future Fund, which supports public education programs, Maryland Lottery and Gaming announced Thursday. Each sports wagering licensee contributes 15% of its taxable win to the state.

Here are the statewide sports wagering totals forJanuary 2022:

Handle (Amountplayers wagered, including promotional wagers provided to players by sportsbooks):

$32,530,831

Prizes (Winnings paid to players):

$28,155,515

Hold (Handle less prizes paid):

$4,375,316 (13.4%)

Taxable Win (Amount remaining after paying winners and deducting promotional play and other amounts):

$4,293,989

Sports Wagering Tax (15% of the taxable win):

$644,098

The hold percentage for all wagers placed during January was 13.4%, and for wagers that were settled during January, the hold percentage was 13.97%. Since the inception of the sports wagering program inDecember 2021, the hold percentage for settled wagers is 10.61%.

MGM National Harbor, Live! Casino, Horseshoe Casino, Ocean Downs Casino and Hollywood Casino began their sportsbook operations duringDecember 2021with openings occurring from Dec. 9 to Dec. 23. Additional facilities are expected to open in the near future.

Maryland Lottery and Gaming operates the Maryland Lottery and is responsible for regulatory oversight of the states casinos and sports wagering program. In this role, the agency provides direction and guidance to its casino and sports wagering partners on financial, security, regulatory and licensing procedures. To keep Marylanders informed and to maintain transparency of casino and sports wagering operations, monthly financial reports are posted onmdgaming.com.

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Md. Sportsbook Facilities Contribute $644K to the State in First Full Month of Operations - WBOC TV 16