March was another good month for Maryland-based sportsbooks, with the Maryland Lottery reporting Monday that operators had a double-digit hold and claimed more than $47.5 million in gross sports wagering revenue.
The house had a 12.3% win rate on gross revenue for March, the ninth consecutive month it was 10% or higher. Maryland has had mobile sports wagering for five-plus months since a late November launch, and the hold has been 11.9% or higher each month.
Promotional credits again declined for March, totaling just shy of $11.4 million. That was down 27.9% from February and 84% lower from the peak outlay of $71 million in the first full month of mobile betting in December. Overall, promotional credits totaled $49 million during the first quarter of the year.
