Maryland regulators have approved another brick-and-mortar sportsbook for the state, but the pace of progress remains much slower when it comes to authorizing online wagering options.
On Wednesday, Bingo World in Maryland's Anne Arundel County became the latest venue to receive a sports wagering facility license from the state’s Sports Wagering Application Review Commission (SWARC).
The SWARC's approval tees up yet another physical location in Maryland to start taking sports bets on its property.
Five casinos in the state have already begun brick-and-mortar sports betting operations. Another three off-track betting facilities have been awarded licenses but still have some regulatory work to do before they can launch.
“The last step in the process is a controlled demonstration, during which guests invited by the facilities will participate in live wagering under the observation of Maryland Lottery and Gaming staff,” the regulator noted on Wednesday. “The four pending locations have not yet scheduled their controlled demonstrations.”
Maryland’s launch of legal online sportsbooks is likely still months away, however. That’s partly because the SWARC is waiting on the results of a new “disparity” study that only recently started being conducted.
“It only took six months for that engagement to get off the ground,” SWARC Chairman Tom Brandt said during a meeting of the commission on Wednesday. “I'm confident it's going to be worthwhile.”
Early days
Legal sports betting only began in Maryland in December, which followed voters approving wagering back in November 2020. Gov. Larry Hogan then signed sports-betting legislation into law last May, setting the stage for the SWARC to award up to 47 licenses for brick-and-mortar books and 60 licenses for mobile wagering channels.
One of the reasons why Maryland’s rollout is taking longer than some other states is the bill Hogan signed. The legislation aims to ensure the participation of minorities and women in the sports-betting industry, which is unique in the U.S. and which requires additional effort from regulators, such as the disparity study.
Meanwhile, the SWARC has been signing off on retail sports betting at 17 locations earmarked by Maryland law, including the approval granted Wednesday to Bingo World.
MGM National Harbor, Live! Casino, Horseshoe Casino, Hollywood Casino, and Ocean Downs Casino have already been approved and are taking bets, with OTBs Riverboat on the Potomac, Long Shot’s, and Greenmount Station still to come.
The five casinos that were taking sports bets in Maryland in February registered a handle of $25.5 million for the month, down from $32.5 million in January. The books only won $955,377 last month off their wagers — or a hold of 3.74%. Those numbers were down from January, which saw around $4.375 million in revenue and a 13.4% hold.
“Since the inception of the sports wagering program in December 2021, the hold percentage for settled wagers is 8.45%,” Maryland Lottery and Gaming noted last week.
