Mobile Sports Betting in Maryland Will Not be Happening Anytime Soon
Even though mobile sports betting has been requested for nearly 18 months by voters in Maryland, it has not yet been launched.
The Maryland Sports Wagering Application Review Commission conducted its monthly meeting on Thursday to get an update on various issues involved with this case.
What Happened with the Disparity Study Update?
Retail sports betting made its debut in the Old Line State in December as mobile sports betting was projected to launch at some point in 2022. At the end of the meeting, Randy Marriner wanted an update on the disparity study review.
Last month the long-awaited study began its process. When the results are finally posted, this will show if the SWARC will have to make more additional efforts to include minority and women-owned businesses in the sports betting business venture.
As soon as the study is completed, the state can move toward mobile sports betting; it only offers retail sports betting at five locations across the state. No one has a rough estimate of when the study will end. Maryland Assistant Attorney General David Stamper has given no timeline.
This is not the news bettors living in the state wanted to hear. Stamper also told Marriner, “I’ll send you an email as to why we’re not providing an update.”
When is the Next SWARC Meeting?
The SWARC was established in the state’s sports betting legislation to establish a competitive market for these approved sports betting licenses. Besides the 17 designated licenses, there are also 30 retail licenses and 60 mobile licenses available.
Kimberly Copp, who is an attorney for Taft Stettinius & Hollister, hopes that when the next meeting takes place on May 18th, there will be a substantial example based on the study that was conducted. It isn’t clear after this month’s meeting if the mobile sports betting market could launch before the start of the NFL season.
In recent months, the SWARC has awarded retail sports betting licenses to four more entities. The projected launch date for these operators is expected to happen soon; however, few of these established have refrained from letting the public know when they will launch.
Greenmount Station is waiting for its sports betting partner to receive a license. On the other hand, Riverboat on the Potomac has partnered with PointsBet.
Retail Sportsbooks Nearly Set a Record in March
Bettors will still have to wait for a mobile sports betting market. The retail sportsbook operators brought in a total of $32 million in March, according to the MLGCA report earlier this month.
The record was set back in January as the five retail operators brought in $32.6 million. The sportsbooks had a hold percentage of 12.7 percent and were able to generate $3.9 million in revenue. The state was able to collect $577,019 in tax revenue.
Live! Casino’s FanDuel Sportsbook had a handle of $13.6 million in wagers. BetMGM’s sportsbook at MGM National Harbor brought in a total of $9.3 million. The three other retail locations each recorded a handle of less than $5 million.
