Maryland’s sports wagering market achieved its strongest month yet in March 2023, with a total contribution of $5,310,057 to the Blueprint for Maryland’s Future Fund, which supports public education programs. The 10 retail and eight mobile sportsbooks in Maryland combined to generate a single-month record, breaking the previous high of $2,796,880 in February. The state’s growing sports betting market continued to mature, with the NCAA basketball tournament in March driving sports wagering participation. Mobile betting on March Madness became available for the first time in Maryland.
In March, the statewide handle totaled $385,967,195, with mobile handle accounting for 95.9% of the total at $370,290,622. Mobile wagering contributed $5,111,105 to the state during March, while retail sportsbooks contributed $198,953.
Maryland Lottery and Gaming Director John Martin stated that “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…as our market continues to mature we’re pleased to see it generate a strong contribution to education funding.”
Each sportsbook contributes 15% of its taxable win to the state education fund. A detailed summary of each sportsbook, including handle, hold percentage, prizes paid, promotional play, taxable win, and contribution to the state, is available for download at mdgaming.com.
The Maryland sports wagering market launched in December 2021 with five retail locations. The first seven mobile sportsbooks launched in November 2022, and as of the end of March 2023, there were 10 retail locations and eight mobile operators. Additional retail locations and mobile sportsbooks are expected to launch soon.
Since the inception of Maryland’s sports wagering program, the Blueprint for Maryland’s Future Fund received a cumulative contribution of $16,791,257, while the Problem Gambling Fund received $1,611,570 in expired prizes.
Maryland’s sports wagering market continues to show promising growth, providing an opportunity for individuals to participate in sports betting while supporting public education programs in the state.
