Online sports betting has yet to enter the Maryland sports betting market, but the Old Line State has some success in the retail sports gambling aspect. Gov. Larry Hogan has been an advocate for sports betting when the opportunity presented itself and is now pushing to bring mobile sports betting by the NFL season.
The Push for Mobile Sports Betting Continues in Maryland
Out of all the jurisdictions that approved mobile sports betting in the sports betting industry, Maryland has taken the longest to launch as it isn’t a thing yet.
The Sports Wagering and Application Review Commission has taken its time with the disparity analysis study as it tries to determine whether or not the state needs to get more businesses and people involved in the process.
Gov. Larry Hogan wants mobile sports betting to start by the NFL season as the last quarter of the year is when markets across the country register record monthly handles. Football takes place before the NBA and NHL seasons start, so operators get a head start with the increased betting volume.
The Baltimore Ravens also open the season on the road against the New York Jets on September 11th. As the NFL season changes, New York and New Jersey will remain two of the biggest sports betting markets in the United States.
The governor clearly shares the frustration as he urged the Commission and lawmakers to intensify their efforts when the retail sports betting market wasn’t around. He stated in a letter he sent on Tuesday;
“To make that target date achievable, it is imperative that you immediately accelerate and intensify your efforts.”
There are Numerous Hurdles in the Process Before the Opportunity to Launch Mobile Sports Betting
The Commission has yet to update revolving around the disparity study since the last meeting. In order for mobile sports betting to start by the NFL season, the Commission must take these steps to have the operation up and running.
- The Commission must prioritize mobile licenses with the locations that offer retail sports betting at the casinos.
- A meeting is set for this Thursday, and the Commission must set a firm and transparent timeline as to when online sports betting will begin in Maryland.
- After the meeting, release drafts of applications and regulations so the industry can begin preparing for their release.
- Approved licenses must be handed out quickly as meeting the Maryland Lottery, and Gaming’s licensing qualification standards should be sufficient.
- As a rule, the first-come, first-served method should be used.
Maryland’s neighbors include Delaware, Pennsylvania, Virginia, West Virginia, and Washington, DC, all offer mobile sports betting. The two markets that had the most success are Pennsylvania and Virginia, as the convenience of mobile sports wagering has pushed the monthly handles to new heights.
Maryland Sports Betting Handle for May
The five retail locations throughout the state registered a monthly handle that approximately brought in $23.1 million. The handle may have noted a significant drop from April due to the summer slowdown, but the five in-person locations combined to have a hold rate that was in the double digits.
This is the fifth time in six months the operators reported a win rate that exceeded 10 percent, as it was situated at 13.3 percent. Despite the lower handle, the bookmakers were able to generate $3.1 million in revenue. The state was able to collect $452,897 in taxes.
The casino Live!, continues to be the leader in the market as it is home to the industry’s most popular sportsbook FanDuel. Maryland’s market may be doing well as of now, but the state has yet to reach its full potential. Since the Maryland retail market launched, states like Arizona and Louisiana have taken advantage of having a mobile sports betting market.