Maryland’s March sports betting handle climbs to $536.7m

April 10, 2024
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Sports wagering contributed close to $5m in taxes for the month.

The state of Maryland has published its March sports betting results. During the month, the state posted a $536.7m handle. Mobile wagers reached $522.1m in March, while retail locations brought in another $14.6m in wagers.

March’s handle reflected a significant boost when compared to the previous year. According to the state report, last month’s handle grew by 39.1% year-over-year.

However, operators walked away with a smaller revenue total than they did one year ago. Operators statewide managed to keep $45.1m of the total wagered in March, down nearly $3m when compared to last year.

Maryland players managed to end the month with a combined win total of $491.6m. Players using their mobile devices got the largest piece of the pie, bringing home $478.1m in total win. Retail players won a total of $13.5m.

Maryland sports betting contributed close to $4.8m in tax contributions last month. Per the current regulations, Maryland’s sportsbooks contribute 15% of all taxable wins to the Blueprint for Maryland’s Future Fund. The organization supports public education programs around the state.

Retail sports betting has been legal in the state of Maryland since 2021. The state opened its online sports wagering market in 2022.

Online gaming has been on the radar in the state of Maryland for the past several months. With the topic of possible iGaming legalization on the table, the Maryland Lottery and Gaming Control Agency has studied the effect online gaming could have on the state.

State Senator Ron Watson recently put together a bill that would legalize online gaming, as well as poker. However, some lawmakers remain concerned that expanding gambling in Maryland could eliminate jobs at brick-and-mortar locations.

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