Maryland March Madness Trumps Super Bowl Sports Betting Revenues

Nov 5, 2023; Baltimore, Maryland, USA; Baltimore Ravens tight end Mark Andrews (89) runs with the ball against the Seattle Seahawks during the third quarter at M&T Bank Stadium. Mandatory Credit: Jessica Rapfogel-USA TODAY SportsMaryland Lottery and Gaming reported $4.8 million in sports betting tax revenue in MarchMarch sports betting revenues decreased by 8.6% from its March 2023 totalThe state reported $536.7 million in handle, an increase of nearly 40% from the March 2023 total

Maryland iGaming hopes are dead, but its sports betting program is still moving along well.

Maryland Lottery and Gaming reported its March numbers, noting the state took in more than $4.8 million in sports betting tax revenue and saw $536.7 million in handle for the month.

The $4.8 million in sports betting tax revenue was an 8.6% decrease from Maryland’s March 2023 total. During the first nine months of fiscal year 2024 (July 2023 through March 2024), sports wagering has contributed $41.9 million to the Blueprint for Maryland’s Future Fund.

March Madness Trumps Super Bowl

The March Maryland sports betting totals outperformed February’s numbers, which included the Super Bowl.  Maryland Lottery and Gaming reported $536.7 million in sports betting handle and $4.8 million in tax revenue, trumping February’s handle and tax revenue totals of $442.5 million and $4.2 million, respectively.

FanDuel kept its stranglehold on the state, notching $247.8 million in online sports betting handle and reported $19.6 million in taxable win, both tops for all operators. DraftKings reported $155.1 million in online sports betting handle and $7.6 million in taxable win.

ESPN BET, the newest operator in the state, reported only a 1.5% hold for March, with $31.96 million in handle and $31.4 million in prizes paid. It noted no taxable win and paid no taxes to the state for the month.

Here are the March handle and taxable win totals for online sports betting:

BetMGM: $42,810,580 handle. $2,785,240 taxable win.BetRivers: $6,655,947 handle. $67,892 taxable win.Caesars Sportsbook: $21,380,250 handle. $113,540 taxable win.Crab Sports: $509,615 handle. $0 taxable win.DraftKings: $155,144,472 handle. $7,678,953 taxable win.Parx Interactive: $573,988 handle. $54,501 taxable win.ESPN BET: $31,968,355 handle. $0 taxable win.FanDuel: $247,823,151 handle. $19,607,050 taxable win.BetFred: $567,300 handle. $844 taxable win.Fanatics Sportsbook: $14,111,305 handle. $308,816 taxable win.SuperBook: $562,537 handle. $26,203 taxable win.

13 Retail Sports Betting Locations Open in State

Maryland is still sitting at 13 retail sports betting locations. No new locations opened in March.

Here are the open 13 retail sportsbooks in the state:

Bingo World in Brooklyn ParkGreenmount Station in HampsteadThe Greene Turtle in CantonHollywood Casino in PerryvilleHorseshoe Casino in BaltimoreLive! Casino in HanoverLong Shot’s in FrederickFedEx Field in LandoverMGM National Harbor in Oxon HillOcean Downs Casino in BerlinRiverboat on the Potomac in Charles CountySports & Social in North Bethesda