You may be able to bet on sports at casinos, stadiums, and by mobile app in Maryland.
A bill passed at the end of the 2021 Maryland legislative session will bring legal sports betting to Maryland by the beginning of the fall NFL Season. Legal sports betting was approved by voters in the November election, but still required another set of legislation to outline to whom and how licenses would be approved. The legislature also wanted to make sure there was language in the bill to give a certain percentage of license to women and minority-owned businesses.
The bill passed in this session; HB 940 allows current gaming operators to apply for a license and sets parameters for other types of businesses to apply for mobile sports betting licenses.
Gaming operations that will be allowed to integrate sports betting in Maryland include the state’s six casinos: Maryland Jockey Club, Baltimore Orioles, Baltimore Ravens, and the Washington Football team. These businesses are also eligible to apply for mobile betting licenses. A total of 30 mobile licenses will be up for bid with eligibility requiring the businesses to have physical locations in the state of Maryland. The state will look at adding more licenses in 2025.
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The state will tax revenue from legal sports betting at 15 percent. Revenues from sports betting will be directed as follows—at least $10 million to K-12 education and $3 million to historically black colleges and universities. Part of the licensing fees will go into the "Small, Minority-Owned, and Women-Owned Business Sports Wagering Assistant Fund." Minority and women-owned businesses can apply for money from the fund to start their own legal sports betting business. The bill has passed in the general assembly and is expected to be signed by Governor Larry Hogan.
Will you be placing any sports bets in 2021 when this is rolled out? Share your thoughts in the comments.