Maryland Lottery and Gaming reported $536.7 million in sports betting handle for March on Wednesday as FanDuel outperformed its mobile counterparts by a sizable margin.
Handle was up 39.1% compared to the $386 million wagered in March 2023, the first year sports betting apps were available in the Old Line State while the NCAA Tournament was played.
It was the fourth-highest handle in 28 months of legal betting in Maryland and also the fourth time in the last five months wagering surpassed $500 million. March’s action was also 21.3% higher compared to February as year-to-date handle topped $1.5 billion.
The $45.1 million in gross operator sports betting revenue, however, was down 5.1% year-over-year. The 8.4% hold was nearly four full percentage points lower and marked the first time the win rate on gross revenue was under 10% in back-to-back months.