Small steps for Maryland online sports betting in 2022

Small steps for MD online sports betting

Small steps for MD online sports betting

Surprisingly, the Maryland Sports-Wagering Application Commission approved regulations and applications for Maryland online sports betting licenses and some retail wagering licenses on Wednesday, July 13, 2022. SWARC Chairman Tom Brandt began the meeting by stating, “during the last year, we have received substantial legal advice on limits.” This was on SWARC’s part in administering the licensing process, especially when it comes to promoting racial and gender diversity as much as state and federal laws allow.

Brandt also stated that the SWARC had asked employees and consulting experts to write laws “that remove race- and gender-based criteria” so that there won’t be any more delays.

In order to achieve diversity in the sports wagering business, the SWARC requires applicants to show at least 5% direct or indirect ownership by at least one individual with a maximum net worth of $1.8 million. The Department of Transportation uses a similar method to evaluate “disadvantaged commercial entity qualifications.”

The SWARC approval was unanimous among the present commissioners, and Brandt said he told the two absent commissioners, who also agreed. Consequently, some people hope internet betting will be allowed in Maryland for the 2018 NFL season. Moreover, the Baltimore Ravens could be in the running for the Super Bowl, and they are a popular pick on mobile sports betting apps in Maryland.

Logjam is removable

The adoption of draft rules, draft applications, and certain “Class B” licenses do not indicate that the state’s route to larger sports gambling is clear. But it may be the first step.

The proposed rules and applications must still be approved by the General Assembly’s Joint Committee on Administrative, Executive, and Legislative Review before they can be made public.

Notably, the SWARC is still awaiting the findings of a sports gambling market analysis being done by a consulting firm in collaboration with the state Attorney General’s Office. This research will help find out if it is legal to use procedures that take race or gender into account in the application and review process.

When the study or analysis is complete, and SWARC looks at the information, Brandt expects that the rules and applications will need to be changed again.

Applicants should prepare their applications.

New applicants may begin preparing their submissions using the material now accessible in online forms from the Maryland & Lottery Gaming Control Commission and the SWARC. According to Brandt, each organization has its own unique application procedure.

Since SWARC hasn’t set a timeline for taking more steps, it’s impossible to say when sports fans will be able to bet on sports online. However, Marylanders are not entirely devoid of sports betting options. There are retail sportsbooks in five casinos, and four smaller businesses have retail licenses but haven’t started taking bets yet.

Sportsbooks expected in MD

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Several of the most famous online betting sites are anticipated to be accessible in MD if online betting is legalized. Using information from other states that have legalized online betting, we can reduce the options to the sites listed below.

BetMGM

In December 2021, BetMGM Maryland established a retail sportsbook at its National Harbor site. It will undoubtedly employ its own BetMGM app for its main sports betting product.

Caesars

Caesars sportsbook already provides digital gaming in a number of neighboring states and would quickly become one of the leading sportsbook alternatives in Maryland. The company has signed a deal to be ESPN’s official line supplier in 2020. This will give it more exposure to millions of sports fans in the United States.

FanDuel

This is another one of the top sports betting companies in the United States that look to be entering the Maryland mobile sports betting market soon. When FanDuel Maryland launches mobile, it should quickly become one of the state’s top commercial operators.

PointsBet

In June 2021, PointsBet officially announced a collaboration with the Riverboat on the Potomac to provide retail and online sports betting. The Riverboat on the Potomac is a small company with ownership by people from different backgrounds. It has a licensed satellite simulcast OTB facility.

Barstool

Penn National Gaming, which owns Barstool sportsbook, has grown its media and entertainment brand for sports betting. Maryland is the latest state to join the list.

BetRivers

Rush Street Interactive’s famous mobile sportsbook subsidiary, BetRivers Maryland, has been making headlines for quite some time. In February 2021, the firm announced a partnership with Penn National Gaming that would offer BetRivers market access in Maryland, Ohio, and Missouri.

BetFanatics

Fanatics, the massive clothing brand, has expanded its reach to include sports betting. The Maryland Lottery approved Fanatics for a sports wagering facility operator license in June 2022. This means that BetFanatics will get into the retail sports betting business in the state very soon after legalization.

Conclusion

Maryland intends to provide a large number of licenses to operators, which is fantastic for the state’s sports betting since customers will have a plethora of alternatives for placing bets. Additionally, creating an account with the listed online sportsbooks is easy, so that should not be a problem for MD residents.

Author: Dustin Woods