Maryland Still Waiting on Mobile Betting
The sports betting saga in the state of Maryland continues as bettors in the state continue to wait for mobile betting to be offered. Voters in the state approved sports betting back in November 2020, but those online sportsbooks remain shut down.
Not only is mobile sports betting still not an option in Maryland, but there is no clear timeline to get this industry up and running. The Sports Wagering Application Review Commission met last week, but nothing was decided at that meeting.
The state of Maryland has approved retail sports betting, and those sites were able to launch last December. This does give bettors in the state an option when looking to make a bet, but it is an option that also requires some traveling.
The sports betting law has set aside 17 sports betting licenses for specific properties in the state, but there could also be an additional 60 mobile licenses available. A study is currently being done to look at including businesses that are owned by either minorities or women.
This process has taken much longer than expected, and the study only began last month. The information from that study should allow the SWARC to begin accepting licenses, but it’s still going to be months before this industry is able to launch.
The next meeting for the SWARC will take place on May 18, and a sample license application could be available at that time.
Sports Betting Summit Coming
May 6 will also be a big day in the push for mobile sports betting in Maryland as Spectrum Gaming Group will take part in hosting a sports betting summit. This will be an informational summit on sports betting, and there will be some key stakeholders that are set to present.
Representatives from both BetMGM and PointsBet Sportsbook will be in attendance at the summit, and each company is expected to offer sports betting in the state. Technology companies and law firms are also set to speak on the issue.
Retail Sportsbooks Posting Solid Numbers
As of April 2022, there are five retail sportsbooks available in the state of Maryland. That number is expected to jump up to seven soon, but this industry is not producing the big numbers that were projected when this became a legal option.
The total sports betting handle for the month of March was $32 million, and that was nearly a record in the state. January is the biggest month on record for retail sports betting as that total was $32.6 million to begin 2022.
FanDuel Sportsbook and BetMGM are currently the two biggest retail options in the state, and both could easily transition into an online sportsbook. In March, FanDuel posted a total handle of $13.6 million, and BetMGM was next on the list with $9.3 million.
