Maryland’s retail sportsbooks and sports betting apps dealt with nearly $100 million extra in wagers in March than they did in February, largely from curiosity in March Madness betting.
Maryland’s retail sportsbooks and sports betting apps dealt with nearly $100 million extra in wagers in March than they did in February, largely from curiosity in March Madness betting.
Total sports betting in Maryland in March was $537 million, up 21.3% from February and 39.1% greater than sports wagering in March 2023 when there have been fewer retail and app-based choices.
The momentum might not let up simply but.
“Men’s and Women’s Final Four and National Championship video games touchdown in April might present a good enhance for state coffers,” Chris Boan, an analyst at GuessMaryland.com, stated.
“Orioles followers might play a serious function in Maryland’s sports betting income through the spring and summer time months, when there’s usually a downtick in quantity waged with sportsbooks,” he stated.
Sports wagering in Maryland final month contributed $4.8 million to the state. During the primary 9 months of Maryland’s present fiscal yr, sports wagering has contributed $41.9 million to the Blueprint for Maryland’s Future Fund.
The overwhelming majority of sports wagering in Maryland is finished by apps.
Gamblers received $491.6 million in prizes in March. Sportsbooks pay a 15% tax on the stability remaining after prizes are deducted from the deal with.
Retail sports and cellular sports betting apps gave away nearly $11 million in free promotional wagers final month.
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