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Maryland launches online betting, grants flurry of licenses

Maryland sports betting news - launch legal online betting

The long-awaited debut of Maryland’s online sports betting took place on Wednesday, with seven mobile sportsbooks already issued licenses.

According to the Maryland Lottery and Gaming Control Commission (MLGCC), these selected sportsbook operators met all requirements to be awarded licenses.

The seven authorized sports betting operators in Maryland are:

  • DraftKings
  • PointsBet
  • Barstool Sportsbook
  • BetMGM
  • BetRivers
  • Caesars Sportsbook
  • FanDuel

“Maryland Lottery and Gaming staff ensured that the seven betting sites complied with all required procedures, and that their systems functioned properly,” the regulator said.

Maryland online sports betting is coming just in time for the ongoing football World Cup.

Gaming Director of the Maryland Lottery John Martin said he is satisfied with the new development, noting its timing is also an additional benefit, with the World Cup expected to be a huge event for sportsbooks.

“We’re excited to reach this milepost and have mobile wagering available to everyone with Thanksgiving Day football games coming up tomorrow,” he said.

“But at the same time, this is only a milepost. There are additional mobile sports wagering entities in the pipeline, and our work is ongoing as we guide them across the finish line.”

MLGCC stated that persons aged 21 and above can now utilize any of the platforms to place their bets. Although the introduction of online sports betting has been approved since 2020, it took over two years for it to be implemented. On the other hand, in-person wagering commenced last December.

Gov. Larry Hogan (R), who is a proponent of gambling, expressed his delight at the fruition of online sports betting and also noted that the revenue garnered from the wagers will be channeled into the educational system of the state.

“Marylanders have been waiting long enough.This process took longer than it should have. But we’re excited that this launch is in time for fans to place their bets on the Thanksgiving NFL action,” Hogan said.

“In addition to allowing Marylanders to bet on the NFL, March Madness, and so much more, sports betting will provide critical revenue for Maryland schools.”

According to analysis made of the proposed revenue from retail and online sports betting, the Maryland Education Trust Fund (ETF) will reap approximately $30 million on a yearly basis. This will be achieved through the 15% tax rate that will be charged on the gross income of both online and in-person transactions.

Reports also reveal that 21 applications were submitted for authorization, which means 11 applications are yet to be approved. The MLGCC is still scrutinizing them to make sure they fit all requirements before issuing a license to any of them.

“An applicant must be found qualified via Maryland Lottery and Gaming background investigation before SWARC can award a license,” the regulator said.

“Applicants’ names are not disclosed until Maryland Lottery and Gaming completes their background investigations and schedules their qualification hearings.”

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