Maryland’s Sports Wagering Application Review Commission has established some concrete dates for license issuance in anticipation of the launch of online regulated sports betting. The commission is scheduled to announce which companies have been awarded licenses during a meeting next month.
The state voted to legalize sports betting two years ago. In-person sports betting in Maryland has been live since last December. However, the process to launch Maryland’s online sports betting market has been met with delays while parameters have been put in place.
The committee met last month and agreed to allow rolling approval for online sportsbook licenses in lieu of a universal sportsbook start date.
Those who seek individual licenses must submit applications by October 21. Once submitted, the committee has 45 days to consider an individual application.
Sports betting laws in the state will allow Maryland gaming regulators to award up to 60 online sports betting licenses to prospective operators.
In a projection analysis piece, analyst Steven Ruddock wrote: “With up to 60 online licenses available, Maryland could have the most online sports betting operators in the US.
“That will help market penetration via advertisements and customer conversion, thanks to lucrative promotions.”
According to gaming official John Mooney, the state has already received ten applications submitted by mobile sports betting operators.
It’s expected that the Maryland Lottery and Gaming Control Agency could approve the first set of online sportsbooks to start taking bets by late November or early December.
XLMedia reporter and editor Robert Linnehan said the decision to launch in Maryland was a long-awaited one and expressed relief that the state was finally moving forward.
He commented: "Marylanders can finally breathe a sigh of relief here because it seemed like it would never happen. We're finally here.”
Since the Supreme Court repealed PASPA in 2018, online gambling is currently available in 30 states, with 18 of those allowing for legal online sports wagering. According to the US Census Bureau, those jurisdictions represent more than 166.9 million people.
Maryland Lottery and Gaming recently released figures that show that the state’s seven sports betting venues have contributed over $477,000 to Maryland’s coffers during the month of August.
