Sports betting is legal in Maryland and retail sportsbooks are already in operation. However, the wait continues for online sports betting. According to experts, online sports betting in Maryland is expected to go live by the fall of 2022.
The MD betting law was signed into law by Gov. Larry Hogan. This came after the bill had been passed by the legislators who had to cement the voters will. The signing marked the end of betting bills and the commencement of legal sports betting.
Even with online sportsbooks yet to be approved, the revenues generated in the state are remarkable. The four retail sportsbooks already in operation have reported total bets for January and February averaging taxable revenues of $4 Million and taxes amounting to $500,000.
What to expect from MD betting law
The wait in Maryland will be worth it. The legislators approved a structure that will allow the state to issue two types of licences.
10 Class A licences will be reserved for the state’s 6 casinos, 3 professional sports teams and the Maryland Jockey Club.
30 Class B licences will be reserved for local businesses with an interest in sports betting. This will be issued based on bidding.
60 mobile wagering licences will be on the table for premier brands as well as newcomers to bid for. Holders of Class A and B licences can also apply for this licence.
The Maryland State Lottery and Gaming Control Agency is the body tasked with overseeing gambling activities. However, a temporary commission the State Wagering Application Review Commission has been assigned the role of determining Class B licence holders.
The contents of this bill will be reviewed in 2025. This will include a review on whether there is a need to increase the number of licences.
Is sports betting legal in Maryland?
Yes, sports betting is legal in Maryland. Nonetheless, the state is yet to roll out online sports betting. As of now, no online sportsbooks are operating in the state legally.
However, betting in retail sportsbooks commenced in December 2021. This has seen the establishment and operation of four retail sportsbooks.
Where to bet in Maryland
As mentioned, online sports betting is yet to go live. With this, no legal sportsbooks are operating in the state. Offshore sportsbooks are operating illegally in the state, but punters are advised against placing any wagers with them. However, Marylanders have the option to bet at retail sportsbooks that already went live in December 2021.
Sports bettors can head to MGM National Harbor, a retail casino owned by BetMGM. They can also head to Ocean Downs Casino, Horseshoe Casino and Live! Casino and Hotel. These are retail sportsbooks owned by Twinspires, Caesars and FanDuel sportsbooks.
Other legal betting options include betting on horse racing and daily fantasy sports. In fact, the state boasts of hosting prestigious horse racing events such as The Preakness Stakes.
For horse racing, bets can only be placed on TwinSpire and TVG.
Sportsbooks that might launch in Maryland
Marylanders will certainly have endless options as several sportsbooks are set to launch in the state. The number to be precise is 60 mobile sportsbooks. Besides, the state has not put in place any requirement that might deter the launch once the go-ahead has been given.
For starters, premier brands such as DraftKings, FanDuel, Caesars and TwinSpires will definitely feature on the list. The brands have already established a presence in the state through their retail sportsbooks. Additionally, FanDuel and DraftKings provided financial support during voting to pass the MD sports betting bill.
Operators such as BarStool and PointsBet have also begun establishing their vested interests through casino acquisitions and partnerships. Moreover, PointsBet becomes the first sportsbook to sign a deal with the University of Maryland. This is a big deal because it’s the first multi-year partnership with a Big Ten school.
Sports to bet on in Maryland
Unlike other states, Maryland has no notable prohibitions on college betting except on DFS. The state allows betting on almost all the sports available. With this Marylanders can bet on major sporting events in the country.
Sports bettors can wager on the NFL, MLB, NCAA and NBA. March Madness is one of the most-watched sporting events and MD sportsbooks have punters covered.
In addition, Marylanders have their professional teams to support these sportsbooks. The state boasts of having professional teams in the NFL and MLB.
These teams include the Baltimore Orioles, Baltimore Ravens, and the Washington Commanders.