Maryland Lottery and Gaming’s latest revenue report shows that the state’s first full month of mobile sports betting saw online sportsbooks accept over $478.2 million in wagers.
State taxes from mobile sportsbooks amounted to just $44,791
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.
First Month of Mobile Sports Betting in Maryland Sees Online Wagers Top $478.2 Million
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.