Maryland sports betting

  • Another MD sportsbook report shows the betting handle capped out without online books.
  • The Lottery director believes Maryland online sportsbooks will launch before 2022 ends.

BALTIMORE – Maryland sportsbooks accepted the third-most money bet in a month during September. But, they still await offering an online option.

September’s sports betting revenue figures show the ceiling of MD sportsbooks.

Maryland Best Three Months Of Sports Betting

Month Handle Revenue
January 2022 $32.5 million $4.3 million
March 2022 $32.0 million $3.9 million
September 2022 $31.3 million $6.5 million

Maryland sportsbooks hit record revenue, per the Maryland Lottery and Gaming Control Agency. Yet, the betting handle has seemed to max out.

Sportsbooks accepted roughly the same amount during the NFL playoffs and March Madness. Maryland has yet to experience a full NFL season. But, during the offseason, sportsbooks were reporting betting handles around $20 million.

This means that until Maryland online sportsbooks launch, betting handles will remain constant. The same is the case for monthly revenues. These eclipsed $3 million five times before paying taxes.

The Imminent Launch Of Online Sportsbooks

The good news? The Maryland Lottery and Gaming director John Martin is “confident” in a 2022 launch.

Land-based sports betting in Maryland has been around since December of last year. Efforts to advance to online sports betting in Maryland has been quite the hassle.

After the 16 months since approving sports betting, the past few weeks have seen all the action.

The Sports Wagering Application Review Commission approved emergency regulations. The 30-day public comment period ended in September. And now that the SWARC opened the application process, things are advancing.

SWARC will discuss public comments in their next meeting on Wednesday. One of the largest comments came from bet365, who brought forth an issue with an ownership clause.

Per the regulations, applicants must have an owner with a net worth under $1.847 million but owns 5% of the company. Planning to enter the legal sports betting market, bet365 does not fit this mold.

Still, any changes will seen publication on Friday in the Maryland Register.

This is also the Maryland sportsbook application close date. So, it will help the Maryland Lottery get right into action. After they bring forth the qualified applicants on Friday, SWARC will have 45 days to review.

Assuming there are under 60 applicants, SWARC will award licenses on a rolling basis. At this timeline, Maryland residents can expect mobile sportsbooks before CFB Bowl season.

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