Maryland Sports Betting Inching Closer to Launch
Retail sports betting is available in the state of Maryland, but there hasn’t been a ton of action at these locations. The state of Maryland is looking for more sports betting revenue, and it could come by the end of the 2022 calendar year.
The Sports Wagering Application Review Commission is set to review applications at a meeting on November 21, and that is when the licenses could be handed out. The Maryland Lottery also plays a key role in this process, and it will work to ensure that all of the sportsbook operators are ready to go.
An official launch date could also be set at that time, and it would end weeks of speculation from residents. At one point, it looked as if the launch would happen at some point in November, but an early December launch is more likely.
Maryland is expected to be a significant sports betting market after mobile sportsbooks go live, and there are some big-name sportsbooks planning to launch. It is important for the state to launch as early as possible in order to take advantage of as many NFL weeks as they can.
Big Names Ready to Roll
The Maryland Lottery made a big announcement a week ago as they made the applicants public. Not only that, but the Lottery ruled that 10 mobile sportsbook operators meet the criteria and should be awarded a license in November.
DraftKings and FanDuel are included in the group of 10, and both companies have already announced plans to launch in Maryland as soon as they are given the green light. Not all 10 of the operators will go live on opening day, but a majority of them will be ready.
Other sportsbooks that are on a path to receive a license in Maryland include: Barstool, Betfred, BetMGM, betParx, BetRivers, Caesars, Fanatics, and PointsBet. This is an impressive list of operators, and it will provide bettors in the state with some terrific options.
Projections Are Impressive
Maryland is the 19th largest state in terms of population, and that is just one of the reasons why this state should see some significant sports betting money flowing in. Another reason is the fact that online sports betting revenue will be taxed at a rate of 15%, and that money will then flow into the state.
Maryland has decided that the sports betting revenue will be going into the Education Trust Fund, which will provide significant resources to education. It will likely take the state sometime before things really get rolling, but there will be some impressive numbers coming in during the football season.
Retail betting is getting ready to celebrate the one-year anniversary of launch, but those sportsbooks should see even less action once bets can be placed online or through a mobile app.
