State taxes from mobile sportsbooks amounted to just $44,791First Month of Mobile Sports Betting in Maryland Sees Online Wagers Top $478.2 Million
The report shows that of the overall Maryland sports betting mobile handle, $70.9 million was free promotional play which was deducted from the final taxable figure. As a result, mobile sportsbooks contributed $44,791 in contributions to the state. Meanwhile retail sportsbooks contributed $395,252 for a total of $440,043 in taxes for the month of December.
There is currently no limit on promotional play deduction for the first year of operation for all sportsbooks. However, from the second year of operation, promotional play deductions will be capped at 20% of the previous year’s taxable win.
Winnings paid out to retail bettors amounted to $15,986,035. Winnings paid to mobile bettors amounted to $395,966,817. This resulted in a combined hold (wagers less prizes paid) of 17.1%.
