Maryland retail sportsbooks and sports betting apps handled nearly $100 million more in wagers in March than in February, largely due to interest in March Madness wagers.
Maryland retail sportsbooks and sports betting apps handled nearly $100 million more in wagers in March than in February, largely due to interest in March Madness wagers.
Total sports betting in Maryland in March was $537 million, up 21.3% from February and 39.1% over sports betting in March 2023, when there were fewer retail and app-based options.
That momentum may not be slowing down yet.
“The men's and women's Final Four and national championship games in April could be a significant boon to the state's coffers,” said BetMaryland.com analyst Chris Boan. Stated.
“Orioles fans can play a large role in Maryland's sports betting revenue during the spring and summer, when wagers at sportsbooks typically decrease,” he said.
In Maryland, sports betting contributed $4.8 million to the state last month. In his first nine months of Maryland's current fiscal year, sports betting has contributed his $41.9 million to the Blueprint for the Maryland Future Fund.
The majority of sports betting in Maryland is done through apps.
Gamblers won $491.6 million in winnings in March. The sportsbook deducts the prizes from the handle and he pays 15% tax on the remaining balance.
Last month, retail sports and mobile sports betting apps donated nearly $11 million in free promotional bets.
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