The professional sports teams in Maryland were hot in 2024 and so was sports betting, as the state set new highs in handle and revenue.
The sports betting scene underwent numerous changes during the past calendar year, and more could be on the horizon, particularly with the state gaming commission proposing new rules for its sportsbooks.
Maryland Sports Betting: 2024 Highlights
March 1: The Maryland Lottery and Gaming Control Agency pulled college player prop betting from its catalog.
March 18: Maryland passed an iGaming bill, one that came with a proposed tax rate of 55% on online slot games and 20% on online table games.
April 8: However, the bill fell short as it was ignored by the General Assembly.
July 1: LetsBetMD went live in the state in the summer, becoming the 12 mobile option in Maryland. Weeks later, SuperBook Sports pulled out of the state.
July 29: Also joining the fray was Bally Bet, which set foot in its ninth state.
Sept. 27: Maryland came forth with another new proposal for sportsbooks, this time a deduction from proceeds for promotional play.
Maryland Sports Betting: Where Things Stand
There are currently 11 mobile sports betting options in Maryland, but there's room for much more as state law allows for up to 60 licenses.
Maryland Sports Betting: What's Next?
There's yet to be resolution on the state gaming commission's proposal to eliminate promotional deductions for online sports betting in Maryland and land-based gaming operations.
The state's pursuit of online casino gaming fell short in 2024, and gambling expansion won't be up for consideration again until at least 2026.
Maryland Sports Betting: Notes and Quotes
John A. Pappas, CEO of Corridor Consulting:
"It’s clear to me that iGaming presents a real opportunity for Maryland’s economic growth. Let’s hope that untested methods of boosting revenue take a backseat, and iGaming gets the serious consideration it deserves in the next legislative session. It’s time to turn to a proven, sustainable source of revenue."
