March Madness was good for Maryland’s coffers.
Revenue and state taxes from sports betting in Maryland were both up nearly 90% in March compared to February, breaking records for both.
March sports betting revenue, or the taxable win, was $35.4 million, up 89.9% from February, according to BetMaryland. March state tax from sports betting was $5.3 million, also up 89.9%.
The total sports handle at Maryland’s 10 retail and eight state-approved mobile sportsbooks was $386 million, the vast majority of it from mobile sports betting apps.
The total included $11.4 million in promotional wagers, or free bets that apps are still aggressively offering to attract gamblers.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP
