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Maryland sportsbooks handle nearly $536M in March, $4.8M goes to state

Your Friday morning news roundup: 4/12/2024
Your Friday morning news roundup: 4/12/2024 01:18

BALTIMORE -- Sports wagering in Maryland contributed a record $4.8 million to the state's coffers in March, the Maryland Lottery and Gaming Commission said Friday. 

Perhaps fueled by NCAA March Madness betting, the state's 13 retail and 12 mobile sportsbooks handled $536 million in wagers last month, with mobile sportsbooks doing the heavy lifting with $522 million in bets. Of that handle, sportsbooks paid out a combined $491 million in prizes. 

The sportsbooks' handle includes more than $10 million in promotional wagers.

Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland's Future Fund, which supports public education programs.

Maryland's sports wagering program has contributed over $70 million to the Blueprint for Maryland's Future Fund since its inception, gaming officials said, along with nearly $3 million to the Problem Gambling Fund. 

March Madness betting 

The American Gaming Association said bettors in the United States are expected to wager more than $2.72 billion on this year's NCAA tournaments using legalized sportsbooks. 

The proliferation of convenient online sports betting and a spike in interest in women's basketball likely drove wagers in the tournament. 

Online sports betting is legal in Maryland, 36 other states and Washington, D.C. More states have legislation pending that would legalize sports betting. 

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