The state of Maryland could soon have online sports betting.
Regulators in the state have moved quickly in recent weeks to approve apps for betting via the internet. Governor Larry Hogan on Tuesday issued a statement after the Maryland Lottery & Gaming Control Agency announced that the launch of mobile sports wagering in Maryland might take place in time for Thanksgiving.
“Today we are proud to report that sports fans can finally plan for the official launch of mobile sports betting in the State of Maryland,” Hogan, a Republican, said. “To reach this point, we have had to overcome countless legal, political, and bureaucratic delays that threatened to push back the launch past the Super Bowl next year.”
Hogan added that he was annoyed by the delay, especially as other states in the region kicked off their respective sports betting markets. More than 30 states in the country have some form of legal sports gambling. Roughly half have online betting.
“It was completely unacceptable to me,” Hogan said, “and we spent months pressing for decisive action. Thanks to those efforts, and after repeated interventions by our administration, we now anticipate the launch of mobile sports betting this month, and we are cautiously optimistic that it will be in time for Thanksgiving.”
“I want to thank everyone at the Maryland Lottery & Gaming Control Agency for their work to help us accelerate the process, and we look forward to a successful launch very soon.”
The state of Maryland is home to six commercial casinos, which collectively generated just under $2 billion in gambling win in 2021.
Maryland will tax sports betting revenue at 15%. It will cost $500,000 for an online sports betting license, according to the American Gaming Association. Licenses are valid for five years, and renewal fees will be equal to one percent of the licensee’s average annual proceeds for the preceding three-year period, less any proceeds remitted for taxes.
Legislation enacted in May 2021 authorizes the various incumbent gambling entities to be licensed sports wagering facility licensees. It also allows for up to 60 mobile sports wagering licenses, but there will likely be about a third of that total.