March Madness credited for Maryland's best month in sports wagering so far
BALTIMORE -- Sports wagering in Maryland set a new benchmark last month with $5.3 million in contribution to the state's coffers, the Maryland Lottery and Gaming Commission said Monday.
The state's 10 retail and eight mobile sportsbooks handled $385.9 in wagers last month, with retail handling $15.7 million and mobile sportsbooks doing the heavy lifting at $370.2 million.
Of that handle, sportsbooks paid out $323.9 million in prizes. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland's Future Fund, which supports public education programs.
"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 statement. "This was the first time that mobile wagering on March Madness was available in Maryland, and as our market continues to mature we're pleased to see it generate a strong contribution to education funding."
