Surge in Maryland Sports Betting During NCAA Tourney

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00:00 [MUSIC]

00:05 And our stories continue in Maryland, Jim, with the idea that sports betting is bringing in some

00:12 very big numbers in the month of March correlated to the NCAA tournament. Looking at some figures

00:18 here, Jim, seems to me over $80 million is a pretty good month. Yeah, $83.7 million bet on

00:26 college basketball in Maryland in March. And of course, that includes the NCAA tournament,

00:33 the NIT, and whatever other various college basketball tournaments that are happening.

00:41 But yeah, a pretty solid number is 15% of overall handle in the month, which going back and looking

00:50 at some prior months during the regular season, the conference season of college basketball,

00:57 it's usually around 6% or 7% of handle. So about twice the percentage of that overall handle in

01:06 March in Maryland, $536.7 million with, like I said, a sizable chunk coming from college

01:14 basketball betting. Parleys, on the other hand, Craig, like we've talked about plenty of times,

01:21 made up two-thirds of operator revenue, $30.5 million in revenue for Maryland sportsbooks

01:29 off of Parleys. The sportsbooks there cleared about $45 million in all. So two-thirds of that

01:39 revenue generated by Parleys. ESPN bet, which we've been tracking kind of closely here since

01:45 their launch in November, they're getting into five, six months of action. They're holding steady

01:52 in fourth place there in Maryland. But yeah, overall, that March Madness number, like we

02:00 talked about earlier in the week, Craig, in New York, just driving big handle figures for sportsbooks

02:07 in a variety of different markets. And of course, there's only a handful of regulated sports betting

02:13 markets in the US that provide specific sport by sport data. So it's always interesting to kind of

02:21 get our eyes on some of this. I know Colorado should be coming out fairly soon with their

02:27 figures and we'll get a sense of that as well from them.