Maryland sports betting sets records, but it may slow – WTOP News

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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