Notes

Maryland Sports Betting Regulations
Maryland allows bettors to place moneyline bets, which involve betting on one team to win without adding or subtracting points, with moneyline odds typically being higher than underdog odds.

Prop bets are wagers placed on certain aspects of a game and offered by most major professional sports leagues.
Legality

Maryland began exploring legal sports betting since 2017, but their attempts failed until PASPA's repeal opened up the opportunity for state markets. A bill introduced last year that would have put this question before voters was killed off in the Senate but efforts resumed after PASPA was deadened - legislative leaders began working on bills which could pass both houses of Maryland's legislature this year, and several bills made their way through both chambers successfully.

Maryland opened retail sportsbooks and launched online gambling in 2022; both forms of wagering were licensed by the Sports Wagering Application Review Commission, or SWARC; up to 60 licenses may be granted statewide; retail sportsbooks can be found across Maryland at venues like BetMGM National Harbor in Oxon Hill and Live! louisiana sports betting & Hotel in Hanover.

Maryland currently licenses 10 sportsbooks, all expected to open their doors by Thanksgiving. Caesars runs Maryland's inaugural online sportsbook; their partnership with Horseshoe Baltimore allows for sports betting as well. FanDuel, DraftKings, Barstool and PointsBet also operate within Maryland's borders.

Maryland sports betting regulations also stipulate that a portion of revenue generated by each sportsbook be directed toward minorities and women. Furthermore, sports operators must make every reasonable effort to seek minority and women investors; qualifying as a minority- or women-owned business requires showing that at least five percent of its direct or indirect ownership has a net worth below $1.847 million.

Moore signed additional Maryland sports betting regulations this week related to university and sportsbook partnerships. Senate Bill 621 requires the MLGCC to contract independent evaluators for content produced by sportsbooks' "content partners", who may then assess that content. Furthermore, these independent evaluators cannot have any financial stake in Maryland sportsbooks whatsoever, including stock ownership.

Maryland legislation also forbids tobacco ads in sportsbook advertising as part of an effort to counteract young people's growing gambling addiction problem. While most states have similar policies, Maryland's is more stringent because the state's problem gambling fund only receives money from winning wagers versus losing ones.
Regulations

Maryland has taken steps toward legalized sports gambling by publishing new sports betting regulations. On Friday, Maryland's Sports Wagering Application Review Commission published approved proposed regulations in an attempt to facilitate awarding Class B mobile and retail sportsbook licenses to eligible operators more quickly.

The new rules aim to level the playing field among sportsbook operators and increase competition in the market. An innovative aspect of this legislation is that 5% of application fees paid to class A-1 and A-2 facilities will go directly into a fund that grants grants to minority- and women-owned businesses entering this industry, as well as helping study its effects on state.

There are other notable provisions included in the new bill, including requirements that the MLGCC approve independent evaluators to assess content partners of sportsbooks in Maryland, including no financial stake in any Maryland sportsbook and being unaffiliated with companies producing content for online gambling industry.

Maryland is expected to become a top-tier sports betting market in the Northeast once operational, and with new laws that regulate sportsbooks could make it even more so. Under these new regulations, more types of wagers such as fantasy sports and college games may be permitted - in particular those owned by The Stronach Group which owns both Laurel Park and Pimlico horse tracks is eligible to apply for a sports betting license; it could compete directly against major operators.

Although other states have begun channeling some of the revenue from sportsbooks toward problem gambling funds, Maryland has chosen not to. Instead, a portion of sports betting revenues goes toward its problem gambling fund instead; money collected when bets fail are then distributed among various groups including problem gambling treatment programs.
Taxes

Maryland residents can place sports bets both in-person at brick-and-mortar casinos as well as via mobile apps for professional, collegiate, and high school games. Since establishing its legalized gambling industry in November 2022, over $14 Million in sports betting taxes has been collected by Maryland.

Tax revenue from sports betting has steadily been on the rise as more players join the gaming scene. A variety of factors have contributed to this growth, such as deducting promotional wagers from taxable wins; this change helped DraftKings and FanDuel -- both partners of Maryland Live Casino and Hotel in Hanover -- increase their tax payments significantly in March; combined, these sportsbooks paid more than $3 Million into state coffers!

One factor contributing to Maryland's increased sports betting tax revenue is bettors utilizing mobile applications to place bets - and this trend is expected to continue as Maryland's regulated market expands. According to one recent study, 8 out of every 10 bettors in the US use their phones or other mobile devices when placing their bets; therefore Maryland needs to adopt a mobile-first strategy in order to remain competitive in this industry.

Since launching its online platform in November 2022, sports betting revenue in Washington state has seen significant gains. Revenue increased almost 40% year-on-year due to an influx of new bettors and an increase in winning bets.

Maryland's sports betting industry is flourishing, yet lawmakers remain busy trying to balance competing interests. Although most legislators support mobile sports betting, some are worried that mobile sports gambling might contribute to problem gambling and will harm brick-and-mortar operators.

As part of an attempt to address these concerns, the state Gaming Control Board (MGCB) has proposed new rules in order to ensure all operators are treated fairly. These new regulations allow MGCB to monitor both mobile and land-based sportsbooks while reviewing customer service performance of each operator and reviewing sports betting limits for specific categories of bettors.
Online sportsbooks

Maryland may only recently launched sportsbooks, yet already Maryland has made waves in the US betting market. Sportsbooks in Maryland are overseen by the Maryland Lottery and Gaming Control Agency which also regulates other forms of gambling within its borders. Caesars Sportsbook stands out among North American books as an option offering various betting options like prop bets and futures markets - making the state one of the go-to betting spots.

Online sportsbooks provide an efficient and accessible way to bet on any sport or event, but it's important to keep a few key considerations in mind before placing bets with these sites. Check if the sportsbook is licensed by an authoritative body and be mindful of the wager limits before selecting one with excellent customer service and reputation.

Maryland sportsbooks generated $85.2 million in revenue during their inaugural month of legal sports gambling in December 2021 despite experiencing a slower start-up period compared to prior year. That number represented a 30% increase compared to revenue produced the year prior.

State laws will soon enable New Jersey to increase its number of sportsbooks. A new law will grant 17 brick-and-mortar locations permission to provide sportsbooks, including Greenmount Station and Ocean Downs as well as Stronach Group racetracks Laurel Park and Pimlico. MGM National Harbor can also launch sportsbook operations while Bally Bet and WynnBet will receive licenses later this year for online sportsbooks.

But Maryland sportsbooks have recently come under pressure to change regulations designed to protect bettors from misleading promotional offers, with DraftKings making one such request to remove restrictions that limit their annual free bet offer. Other operators looking to gain a foothold in Maryland's sportsbook market have made similar requests.

Maryland differs from most other states by not allocating part of sportsbook taxes towards a problem gambling fund. Instead, its lottery commission will manage distribution and use of these funds to promote responsible gambling practices.
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