Last updated on March 28th, 2021 at 07:23 pm
Lawmakers are working out the details of the new sports betting industry in the state. Thus, the Maryland sports betting debate is coming to an end. The bill cleared the House of Delegates and will now head to the Senate Committee.
The bill allows both in-person and online betting in Maryland. Voters approved the legalization of sports wagering during the last general elections. According to sports betting software solution reports, lawmakers are still working out the sports wagering industry’s details.
The House of Delegates approved Speaker Adrienne A. Jones’ bill to allow ten in-person betting licenses and 15 mobile betting licenses. All licenses are open for applications. Furthermore, the casinos, racetracks, and the Potomac River off-track betting facility will get guaranteed licenses.
Maryland Sports Betting Debate
According to sportsbook pay per head sources, the bill allows in-person betting at the Pimlico Race Course and professional sports stadiums during game days. Maryland would receive 15 percent of the sports betting proceeds. The best bookie software estimates the state would get around $20 million annually. Most of the sports betting tax will fund public education.
The House approved the speaker’s bill with a vote of 129-10. It is now in the Budget and Taxation Committee of the Senate. Also, stakeholders are asking the senators to expand the bill. Restaurants and resorts requested a chance for guaranteed sports wagering licenses.
One business is Rod N’ Reel resort in Chesapeake Beach. At present, it has bingo machines and live bingo. It wants to qualify for a sports betting license to augment its income. In Maryland, the bingo industry saw a drop in revenue after the legalization of slot machines and table games.
Off-track betting sites want their share of the sports betting pie as well. They already accept wagering. Thus, sports betting should be a good fit in their business model.
