TOMMIE: GOOD EVENING. EXPECTATIONS FOR MOBILE SPORTS WAGERING WERE ALL OVER THE MAP. BUT WITH TODAY’S RELEASE OF NOVEMBER NUMBERS, WE ARE LEARNING HOW MANY MARYLANDERS ARE CHOOSING TO PLACE THEIR BETS ONLINE RATHER THAN IN-PERSON. MARYLAND’S FIRST MOBILE SPORTS WAGERING NUMBERS ARE IN. WITH PENT-UP DEMAND. 7-SPORTSBOOK OPERATORS COMPETING FOR MARKET SHARE. AND A ROBUST SPORTS BETTIG WEEK AT THE START. >> WE REALIZE THIS WAS AN OPPORTUNITY THAT WAS UNPARALLELED. IT WAS THE PERFECT STORM. TOMMIE: ACCORDING THE STATE’S NEW REVENUE REPORT IN THE FIRST 9-DAYS OF MOBILE SPORTS BETTING. USERS WAGERED A TOTAL OF $186 MILLION. OF THAT NEARLY $64 MILLION WAS FREE PROMOTIONAL PLAY. AS A RESULT MOBILE WAGERING BROUGHT $4200 INTO THE STATE IN THAT TIME. THE REPORT ALSO SHOWS NOVEMBER’S COMBINED RETAIL AND MOBILE SPORTS WAGERING HANDLE WAS TO $19 MILLION. — $219 MILLION. OF THAT MORE THAN $700,000 EACH SPORTS WAGERING LICENSEE CONTRIBUTES 15% OF ITS TAXABLE WIN TO THE BLUEPRINT FOR MARYLAND’S FUTURE FUND, WHICH SUPPORTS PUBLIC EDUCATION PROGRAMS. >> WE ESTIMATE ONCE WE GET THE WHOLE THING STABILIZED WE COULD BE TALKING ABOUT $25 TO $30 MILLION ANNUALLY FOR THE BLUEPRINT FOR MARYLAND’S FUTURE TOMMIE: FUND. MARYLAND LOTTERY AND GAMING DIRECTOR JOHN MARTIN SAYS IT’S FAR TOO SOON TO TELL THE IMPACT OF MOBILE SPORTS WAGERING ON MARYLAND. ESPECIALLY BECAUSE RIGHT NOW THERE IS NO LIMIT ON THE AMOUNT OF PROMOTIONAL PLAY. BUT AFTER THE FIRST FULL FISCAL YEAR, THAT WILL CHANGE. >> RIGHT NOW THE PROMOTIONAL , SPEND IS REALLY UNLIMITED FOR THE FIRST 12 MONTHS, SO CALENDAR YEAR 24 IS PROBABLY WHEN WE’RE GOING TO SEE THE IMPACT OF OUR 20% CAP OF OUR PROMOTIONAL SPENDING. BY THEN WE’LL HAVE A STABLE AND MATURE MARKET. TOMMIE: THIS WEDNESDAY WE COULD SEE A COMMISSION APPROVE TWO MORE MOBILE SPORTS WAGERING LICENSES. LIVE AT HORSESHOE CASINO, I AM TOMMIE CLARK WBAL TV 11 NEWS. DEBORAH: WITH ALL THE PROMOTIONAL SPENDING RIGHT NOW, STATE LEADERS WANT TO REMIND MARYLANDERS TO PLAY RESPONSIBLY. YOU CAN CALL 1-800-GAMBLER TO FIND RESOURCES FOR YOURSELF OR SOMEONE
Revenue numbers from early period of mobile sports betting in
Updated: 8:16 AM EST Dec 13, 2022
Mobile sports betting in Maryland just went live late last month, but now a new report is giving us a first look at how much money it’s bringing into the state.Expectations for mobile sports wagering were all over the map, but with Monday’s release of November’s numbers, we’re seeing just how many Marylanders are placing their bets online, rather than in person.With pent-up demand, seven sportsbook operators competing for market share, and a robust sports betting week at the start, the first mobile sports wagering numbers are in.”We realized this was an opportunity that was unparalleled, it was the perfect storm,” John Martin, the director of Maryland Lottery and Gaming, said. According to the state’s new revenue report, in the first nine days of mobile sports betting, users wagered a total of $186 million. Of that, nearly $64 million was free promotional play. As a result, mobile wagering brought $4,200 in those first few days.The report also shows November’s combined retail and mobile sports wagering handle was $219 million. Of that, more than $700,000 will go to the state. Each sports wagering licensee contributes 15% of its taxable win to the “Blueprint for Maryland’s Future Fund,” which supports public education programs.”We estimate that when we get the whole thing stabilized,” Martin said,” we could be talking about $25 to $30 million annually for the ‘Blueprint for Maryland’s Future Fund.'”Martin said it’s far too soon to tell the impact of mobile sports wagering on Maryland. Especially because, right now, there is no limit on the amount of promotional play. After the first full fiscal year, that will change.”Right now, the promotional spend is really unlimited for the first 12 months, so calendar year (2024) is probably when we’re (going to) see the impact of our 20% cap of our promotional spending. By then, we’ll have a stable and mature market,” Martin said. On Wednesday, we could see a commission approve two more mobile sports betting licenses in Maryland. With all the promotional spending right now, state leaders want to remind Marylanders to play responsibly. Call 1-800-Gambler to find resources for you or someone you know.
Mobile sports betting in Maryland just went live late last month, but now a new report is giving us a first look at how much money it’s bringing into the state.
Expectations for mobile sports wagering were all over the map, but with Monday’s release of November’s numbers, we’re seeing just how many Marylanders are placing their bets online, rather than in person.
With pent-up demand, seven sportsbook operators competing for market share, and a robust sports betting week at the start, the first mobile sports wagering numbers are in.
“We realized this was an opportunity that was unparalleled, it was the perfect storm,” John Martin, the director of Maryland Lottery and Gaming, said.
According to the state’s new revenue report, in the first nine days of mobile sports betting, users wagered a total of $186 million. Of that, nearly $64 million was free promotional play. As a result, mobile wagering brought $4,200 in those first few days.
The report also shows November’s combined retail and mobile sports wagering handle was $219 million. Of that, more than $700,000 will go to the state. Each sports wagering licensee contributes 15% of its taxable win to the “Blueprint for Maryland’s Future Fund,” which supports public education programs.
“We estimate that when we get the whole thing stabilized,” Martin said,” we could be talking about $25 to $30 million annually for the ‘Blueprint for Maryland’s Future Fund.'”
Martin said it’s far too soon to tell the impact of mobile sports wagering on Maryland. Especially because, right now, there is no limit on the amount of promotional play. After the first full fiscal year, that will change.
“Right now, the promotional spend is really unlimited for the first 12 months, so calendar year (2024) is probably when we’re (going to) see the impact of our 20% cap of our promotional spending. By then, we’ll have a stable and mature market,” Martin said.
On Wednesday, we could see a commission approve two more mobile sports betting licenses in Maryland. With all the promotional spending right now, state leaders want to remind Marylanders to play responsibly. Call 1-800-Gambler to find resources for you or someone you know.
