The formal launch of mobile Maryland sports betting will happen Wednesday morning, a little more than two years after voters in the Old Line State approved event wagering in a referendum.
Maryland Gov. Larry Hogan announced on Tuesday that seven sports betting sites will start taking action in bulk on Wednesday at 9 a.m. Eastern Time.
The online sportsbooks expected to launch in Maryland tomorrow morning completed a controlled demonstration of their wagering abilities for state regulators on Monday. They are:
More operators are expected to launch in Maryland in the weeks to come, such as Betfred, as the state’s sports-betting law allows for up to 60 mobile licenses to be issued.
“We anticipate that in late spring, early summer of 2023, prior to the kickoff of the next football season, the Maryland market will include up to 21 mobile entities and between 15 and 20 facility licenses,” Maryland Lottery and Gaming Control Agency Director John Martin said during Tuesday’s press conference.
Timely enough
The opening of another avenue of legal sports betting in Maryland comes after voters approved legalization back in November 2020. In-person sports betting began in the state at casinos in December 2021, but mobile wagering got bogged down in delays associated with Maryland’s unique law, which required efforts to ensure there is diversity in the industry.
Those delays grated on Hogan, who pushed regulators to launch mobile sports betting in time for the start of the 2022-23 NFL regular season.
Although Maryland’s Sports Wagering Application Review Commission (SWARC) only awarded mobile licenses last week, the timing of the launch will still allow bettors aged 21 and up to make wagers over the internet on plenty of NFL action, as well as the playoffs and Super Bowl.
Revenue from sports betting in Maryland is subject to a 15% tax rate, with the money raised by the state earmarked for education funding. On Tuesday, Hogan said it is expected event wagering will bring in up to $30 million in revenue next year, with the total anticipated to rise to nearly $100 million annually by 2027.
“This process took longer than it should have, but we are excited that this launch is in time for fans to place their bets on all the Thanksgiving Day NFL action, college football rivalry weekend, this week’s slate of NBA games, the 2022 World Cup, and this Sunday’s Ravens and Commanders games,” Hogan said during the press conference. “In addition to allowing Marylanders to bet on the NFL, March Madness, and so much more, sports betting is helping us to keep all of these critical dollars in the state of Maryland, and is providing another critical revenue source for Maryland schools.”
