Maryland sports wagers surpass $536.7 million in March

Sports Betting

March turned out to be a decent month for sportsbooks in the state of Maryland. The handle rebounded nicely from the expected drop-off in February. The Maryland sports betting handle for March was $536.7 million, a significant increase over February’s $442.5 million.

The Maryland sports betting handle numbers show that those who bet online are responsible for more than 97% of the wagers seen in March. The hold on retail wagers was 7.6%, which is slightly lower than the overall hold.

It was also up 39.1% from the $385.9 million wagered in March 2023. Revenue for the state’s sportsbooks totaled $45.1 million for the month. The majority of the profits came from customer’s picks and parlays, as parlays/combination bets accounted for $30.5 million worth of profit.

The Maryland sports betting handle saw parlays/combination bets responsible for the highest handle category, bringing in $181.1 million in wagers. The NBA was second at $160 million, although many of the parlays could have involved just NBA games. College basketball was next at $83.6 million.