Mobile betting adds more than $700K to Maryland economy in the first month
MARYLAND – Mobile betting has been legal for less than a month in Maryland and it’s already making a great economic impact according to officials.
7 mobile platforms were launched on top of the 9 retail locations. Free promotional play also got customers interested in playing supplying more than 63 million dollars in free play. Officials say promotional play will soon reduce because it cannot exceed 20% of its taxable win from the prior year.
Altogether things are looking up for the future of mobile betting. “Retail had a good 3 weeks in November but once we saw the shift on mobile on the 23rd of November that kind of moved things to the other side. On the mobile side, it was the perfect storm. We had pen-up demand from Marylanders who waited over a year for the mobile wagering platform,” says John Martin, the Director, of Maryland Lottery and Gaming.
John Martin says the recent interest in games has contributed to this positive economic impact. That is basketball, the world cup, the NFL, and football bowl games.
Each sports wagering license contributes 15% of its taxable win for a good cause. “The retail and mobile numbers for November, we had a total handle of over $219,000,000 which generated over $704,000 for education specifically the Blueprint for Marylands Future Fund,” says Martin.
The director urges that if you are going to play, play responsibly. They have a partnership with the University of Maryland Center of Excellence and encourage players to check them out if they or someone you know has a problem gambling.
For the full report of sports wagering revenue, click here.