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Bets are on for the NCAA basketball tournament, and the state of Maryland anticipates great growth. When people think of big-time sporting events, the Super Bowl is a popular option. But Maryland Lottery and Gaming is looking forward to sports betting on college basketball's March Madness bringing more money into the state than the NFL's big game generated. "The Super Bowl, as big as it is, is one game on one day, and it probably doesn't generate the kind of activity that you might see for a whole month of games going on like March Madness," Maryland Lottery and Gaming spokesman Seth Elkin told WBALTV.com. March Madness sees 136 teams compete for the title of the best men's and women's college basketball teams through a bracket-style tournament. Although Elkin said it's hard to make projections when it comes to sports betting and March Madness — let alone together — he's optimistic that this year's fiscal trend will continue climbing. Eight months into fiscal year 2025, which runs from July 2024 through June 2025, Maryland has surpassed all of the previous year's gains in that time frame. February pushed this fiscal year's total to approximately $61.2 million, while the entirety of last year saw $60.3 million. "The biggest March month we've had was March of 2024," Elkin told WBALTV.com. "November of 2024 was the biggest handle month we've had, and then December of 2024 and January of 2025 — those are the top three." Even if the state is not comfortable releasing projected numbers, there is an upward trend. Not only is it a positive for sports book operators, but the growth is providing more and more funds for the
Blueprint for Maryland's Future , the state's education-funding plan that
became law in 2021 . "The sports-wagering law that was passed by the General Assembly directed that the state's proceeds from sports wagering would go to the Blueprint," Elkin told WBALTV.com. "March Madness has interest for anybody who's a sports fan that wants to place a bet." Since the program began in December 2021, $149.6 million went to the Blueprint, according to Elkin. These numbers are on a trajectory to continue rising after $475.7 million was wagered by Marylanders in February alone. "March Madness has interest for anybody who's a sports fan that wants to place a bet, but we do believe that there's an impact when the local teams are involved," Elkin told WBALTV.com, referring to both the University of Maryland
men's and
women's teams having secured their respective No. 4 seeds in March Madness. Elkin hopes the Terrapin teams can mirror the revenue spike generated from the success of the Baltimore Ravens, the Orioles and the Washington Commanders last fall. "I think the fact that the Orioles were good last year, you saw a little more betting on baseball, (and) the fact that both the Ravens and Commanders were very good, you saw a little more betting on football (in the fall)," Elkin told WBALTV.com. "It's certainly part of the expectation that when your local teams are doing well, it's probably going to lead to some more local people deciding to place a bet on them." At least at the beginning of both the men's and women's tournaments, parlay bets can be placed to include both Terrapins teams. "One of the really important things (when betting) is to look at parlay bets because a parlay wager is obviously going to pay a larger amount because you need more things to go right," Elkin told WBALTV.com. "That makes them harder to win. They pay out more when you do win, but ... don't get yourself in over your head." Elkin said while the opportunity to parlay is present, it helps to mention that March is designated as
Problem Gambling Awareness Month . "Be careful of anticipating that you know more than you do as sports fans," Elkin said. "It's very important that we remind people to make sure you take this as a form of entertainment. It's something that's fun." Marylanders can begin seeing how their Terrapin bets will turn out first Friday as the men face No. 13 Grand Canyon at 4:35 p.m., followed by the women against No. 13 Norfolk State at 4 p.m. Saturday. The men are currently a 10.5-point favorite, while the women are 16.5 favorites, according to DraftKings Sportsbook.
