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Since last Tuesday, the Maryland Lottery and Gaming Control Commission (MLGCC) online portal for accepting applications for a Class A sports betting license has been opened, marking a critical step towards launching legal sports gambling in the Old Line State.
Maryland’s legislation regarding sports betting states that 17 Class A licenses will be issued to 17 entries in the area, which include the following potential operators already existing in that state:
The actual launch goal for legal sports betting at these venues, as stated in an MLGCC press release, is sometime in the fall or early winter, just in time for the NFL’s lucrative postseason tournament and Super Bowl.
In the meantime, regulations governing Class B licenses are still being finalized, so applications for 30 Class B licenses for retail locations and 60 mobile sports betting licenses are not yet being accepted.
On September 22, the MLGCC will hold a public hearing on those resolutions and starting from that time will be accepting online public comments until September 26th.
According to industry projections, Maryland’s estimated betting handle will be $200 million, so it stands to generate $14.4 million in sports betting revenue which would equate to about $2.16 million in new tax revenue for the Free State.
Partnerships for this potentially lucrative operation are already forming.
It takes teamwork to launch a sports betting operation, and right now plenty of partnerships between potential operators and popular sportsbooks have been forming in Maryland, including these which have already been announced:
There are a total of six casino properties in Maryland so expect sportsbooks at each of them, giving resident bettors plenty of locations, retail and online, to place wagers and enjoy legal sports betting.
It’s not like Maryland gamblers haven’t already been placing sports bets – they just spend that money in neighboring states where sports betting is already legal (Virginia, West Virginia, Pennsylvania) or by using offshore sportsbooks who don’t necessarily always payout with no legal recourse existing to recoup those lost funds.
Now in addition to the state’s existing retail and online casinos, Maryland punters will soon have plenty of safe ways to enjoy their wagering hopefully just in time for the NFL playoffs beginning in the middle of January.
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Mike Lukas is a retired standup comedian turned freelance writer now living in Dallas, Texas, originally from Cleveland, Ohio. His love for the game of football and all things Cleveland Browns turned Mike into a pro blogger years ago. Now Mike enjoys writing about all thirty-two NFL teams, hoping to help football gamblers gain a slight edge in their pursuit of the perfect wager. Email: [email protected]More info on Mike Lukas
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