Maryland made more tax revenue from sports gambling in March than the previous three months combined as free bets declined and March Madness drew in millions more in wagers.
Maryland received $5.3 million in taxes from sports gambling in March, according to the Maryland Gaming Commission, nearly 90% higher than the February figure of $2.8 million and more than any month since mobile gambling started in the state in November. In total, Marylanders made nearly $386 million in bets in March, an increase of about $46.5 million over February.
The increase in collectible taxes is largely because of sportsbooks pulling back on the promotional bets they initially offered to gamblers and because of the NCAA basketball tournament, which the American Gaming Association predicted would see $15.5 billion worth of bets placed across the country.
“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 and Gaming Director John Martin in a release.
