Legislative Committee in Maryland Pursues Football Betting During Seasons
**Sports Betting in Maryland: A Stepping Stone Towards Economic Growth**
Maryland has taken a significant step towards economic development with the legalization of sports betting. The journey began with a voter referendum in November 2020, and Governor Larry Hogan signed sports betting legislation, HB 940, into law in May 2021 [1][3].
**Timeline of Launch**
Retail sports betting launched on December 9, 2021, and online sports betting officially went live on November 23, 2022 [3].
**Key Details of HB 940**
The legislation allows for both retail and online sports betting, regulated by the Maryland Lottery and Gaming Control Agency (MLGCA) [1][3]. In total, up to 60 mobile and online sportsbooks and 47 retail licenses are permitted [3].
**Tax Rate and Licensing Fees**
While specific tax rates and licensing fees are not explicitly detailed in the available information, sports betting in Maryland generates substantial tax revenue, funding state-led educational and public services. For instance, in 2024, tax revenue from sports betting was $82,294,052 [5].
License application fees for various categories of licensees are as follows: - Class A1 licensees (pro sports venues, big VLT locations, and horse-racing venues) pay a $2 million application fee with a $500,000 renewal every five years. - Class A2 licensees (smaller VLT parlors) pay a $1 million application fee with a $300,000 renewal every five years. - Class B1 licensees (any non Class B2 licensee) pay a $250,000 application fee with a $50,000 renewal every five years. - Mobile-only licensees pay a $500,000 application fee with a $100,000 renewal every five years.
**Amendments Regarding Professional Sports Venues**
HB 940 allows for retail sportsbooks at all Maryland casinos and big-league sports venues [1]. This provision accommodates partnerships like the one between the Baltimore Ravens and Caesars Entertainment, enhancing sports betting accessibility at major venues [1].
**Amendments Regarding Minority Businesses**
The bill gives priority to women and minority businesses [4]. However, there is no specific mention of amendments or provisions directly targeting minority businesses in the provided sources.
**Economic Impact**
Sports betting has provided major economic benefits for the state, with $5.9 billion wagered on sports in 2024 alone [5]. This economic activity supports state services and educational initiatives.
In conclusion, HB 940 has successfully established a comprehensive framework for sports betting in Maryland, allowing for both retail and online betting across various venues while generating substantial revenue for the state. If the bill passes, Maryland legal sports bets may be able to be placed by football season.
In Maryland, sports-betting legislation HB 940 allows for both retail and online sports betting at various venues, including football stadiums, generating substantial tax revenue and supporting state services and educational initiatives. With the legalization of sports betting, residents can now place wagers on their favorite sports, ranging from football to other sports-betting activities.
