Maryland Sports Betting Sets Records for Revenue, Taxes in March

Maryland Sports Betting Sets Records for Revenue, Taxes in March
Fact Checked by Michael Peters

Maryland sports betting set an important record in March, mainly due to the NCAA Basketball Tournament.

Maryland has 10 retail sportsbooks and eight mobile sportsbooks. With the online wagering leading the way, they combined to generate a single-month record of $5.3 million in tax money to the state, which primarily goes toward education. The March figure eclipsed the previous high by 89.9% when the tax number was $2.8 million in February.

The handle in March for retail and mobile combined was almost $386 million. Of that amount, mobile handle was almost 96%, or $370.3 million.

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Maryland Sports Betting, March vs. February

Total HandleMobile handle Revenue
March$385.967M$370.291M$35.400M
February$339.422M $325.079M$18.646M
Change Up 13.7% Up 13.9% Up 89.9%

Note: Maryland mobile sports betting began Nov. 23, 2022. Retail sports betting launched Dec. 9, 2021.


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Two Sportsbooks Dominate Market

Two sportsbooks dominated the online gambling market in Maryland in handle — Live! Casino Mobile with its partner FanDuel Sportsbook Maryland ($176.5 million) and DraftKings/Crown MD ($115.5 million). Together, those two operations accounted for almost 79% of the mobile handle in Maryland in March.

Meanwhile what undoubtedly moved the needle in March was March Madness.

“There are a few events on the calendar that really drive sports wagering participation, and the NCAA basketball tournament every March is right at the top of that list,” said Maryland Lottery & Gaming Director John Martin. “This was the first time that mobile wagering on March Madness was available in Maryland, and as our market continues to mature we’re pleased to see it generate a strong contribution to education funding.”

Mobile Maryland betting apps started taking wagers in November.

March sports betting revenue (taxable win) was another record. That was $35.4 million, up 89.9% from February ($18.6 million, the previous record).

Maryland bettors enjoyed $11.38 million in free promotional wagers. That money is deducted from the amount used to calculated taxable revenue.

Among retail sportsbooks, the top two in handle were MGM National Harbor ($5.23 million) and Live! Casino ($4.59 million).

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Author

A longtime reporter and editor who began writing on casinos and gaming shortly after Atlantic City’s first gambling halls opened, Bill covered the World Series of Poker and wrote a syndicated column on travel to casino destinations for a decade.

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