Maryland sports betting handled almost $386 million in March to set a new monthly record. The mark was reached thanks to a successful March Madness in the first year Maryland online sports betting was available for the basketball extravaganza.
State contributions to the Blueprint for Maryland’s Future Fund hit a single-month record of $5.3 million. That money is earmarked for public education programs.
Across retail and mobile sportsbooks, Maryland’s fiscal year to date handle is closing in on $2 billion.
First year for online March Madness sports betting in Maryland was a success
Gambling on basketball has always been popular. This was the first March Madness for which Maryland sports betting offered online wagering options, and handle totals did not disappoint.
The total number of bets in March came to $385.9 million, with 95.9% of that ($370.3 million) coming from online sports betting handle. Retail handle came in at $15.7 million.
MGM National Harbor tops Maryland retail sports betting outlets
MGM National Harbor brought in $5.2 million in handle. Live! Casino checked in second with $4.6 million, while Horseshoe Casino finished third with $1.8 million.
Live! Casino still has the highest total for the fiscal year to date at $73.6 million. MGM National Harbor sits at $63.4 million.
Live! Casino and FanDuel collected the most online bets
Not only is Maryland Live! Casino dominating on the retail side, but the mobile side is also doing well and is closing in on $1 billion fiscal year to date.
For the month of March, the online component of Live! Casino, which is partnered with FanDuel, collected $176.5 million in bets, with a fiscal year to date total of $869.2 million.
DraftKings took in $115.5 million, followed by BetMGM collecting $38 million in bets.
The fiscal year to date total for retail sits at $205.9 million, with Maryland online sports betting having handled $1.7 billion. The overall combined fiscal year to date sports betting handle for the state sits at $1.9 billion.
Blueprint for Maryland’s Future Fund is thriving
In March, the contribution to the Blueprint for Maryland’s Future Fund was $5.3 million. That set a new record for highest single-month contribution since the program’s inception.
This contribution was almost double the $2.8 million in February contributions, an increase of 89.9%.
Every sportsbook contributes 15% of its taxable revenue to the fund. This program supports public education and grows the different programs available for students.
To date, the Blueprint has collected $16.8 million from Maryland sports betting revenue. In addition to this fund, $1.6 million has gone towards the Maryland Problem Gambling Fund since December 2021.