Maryland
Maryland sports betting sets records, but it may slow – WTOP News
Income and state taxes from sports activities betting in Maryland have been each up practically 90% in March in comparison with February, breaking information for each.
March Insanity was good for Maryland’s coffers.
Income and state taxes from sports activities betting in Maryland have been each up practically 90% in March in comparison with February, breaking information for each.
March sports activities betting income, or the taxable win, was $35.4 million, up 89.9% from February, in response to BetMaryland. March state tax from sports activities betting was $5.3 million, additionally up 89.9%.
The whole sports activities deal with at Maryland’s 10 retail and eight state-approved cellular sportsbooks was $386 million, the overwhelming majority of it from cellular sports activities betting apps.
The whole included $11.4 million in promotional wagers, or free bets that apps are nonetheless aggressively providing to draw gamblers.
“As anticipated, March was a powerful month for sports activities betting. After a pointy drop in February following the shut of the NFL season, March Insanity betting has introduced a way of restoration to the books,” mentioned BetMaryland Analyst Dru James.
“On condition that spring and summer time are the low season of {many professional} and school sports activities, March’s numbers will be the highest shortly as betting alternatives change into scarcer.”
The months forward will nonetheless prime year-ago comparisons. That is the primary season that Maryland has had cellular sports activities betting, which launched in November 2022, out there together with retail sportsbooks.
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