Maryland sportsbooks enjoyed a positive month in March in terms of revenue, with the state surpassing $536.7Million total income for sports wagers after reporting a disappointing month in February.
February was a disappointing month for Maryland sports betting as the Old Line state reported $442.5million revenue. But just one month later Maryland posted figures of $536.7m from sports betting with a meteoric rise from the beginning of the year.
The latest report from MD suggests that 97% of wagers were placed online during March – with a low percentage hold of just 7.6% retail wagers taken during a busy month.
Maryland’s $536.7m in revenue during March was a huge increase from last year’s total take during the same month, with profits skyrocketing by 39.1% from a low of $385.9m in 2023.
Breaking down the sports betting in Maryland further over the past year shows that the majority of profits came from player props and parlays, which accounted for a total of $30.5m in profit.
Parlays and sports betting was the most bet on category in Maryland during March with $181.1m in wagers taken. The NBA was a close second in the wagers, with over $160m staked on the nation’s top basketball competition.
College basketball also played a big role in the wagers throughout March, with the highly popular NCAA March Madness taking in over $83.6m in stakes.
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