Maryland’s retail sportsbooks and sports betting apps handled almost $100 million more in wagers in March than they did in February, largely from interest in March Madness betting.
Total sports betting in Maryland in March was $537 million, up 21.3% from February and 39.1% more than sports wagering in March 2023 when there were fewer retail and app-based options.
The momentum may not let up just yet.
“Men’s and Women’s Final Four and National Championship games landing in April could provide a decent boost for state coffers,” Chris Boan, an analyst at BetMaryland.com, said.
“Orioles fans could play a major role in Maryland’s sports betting revenue during the spring and summer months, when there is typically a downtick in amount waged with sportsbooks,” he said.
Sports wagering in Maryland last month contributed $4.8 million to the state. During the first nine months of Maryland’s current fiscal year, sports wagering has contributed $41.9 million to the Blueprint for Maryland’s Future Fund.
The vast majority of sports wagering in Maryland is done through apps.
Gamblers won $491.6 million in prizes in March. Sportsbooks pay a 15% tax on the balance remaining after prizes are deducted from the handle.
Retail sports and mobile sports betting apps gave away almost $11 million in free promotional wagers last month.
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