Sports betting apps promote free bets to lure new gamblers. It is legitimate, and it adds up to millions of dollars each month.
Maryland Lottery and Gaming reports the eight mobile sports betting apps approved to operate in the state handled $325.1 million in wagers in February — $15.8 million of that was free promotional wagers.
Promotional play provided to customers by sportsbooks is deducted from the taxable win owed to the state.
Maryland’s 10 retail and eight state-approved mobile sportsbooks generated a combined $339.4 million in wagers in February. Sportsbooks contribute 15% of taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP
