Maryland's First Mobile Sports Betting Operators Set to Launch in Late November
Mobile sports betting licenses in Maryland to be awarded in upcoming month
Get ready, Marylanders! It's time to wager on your favorite sports teams right from your mobile devices.
According to a recent report by CBS Baltimore, the state's Sports Wagering Approval Review Commission is all set to announce the first operators to receive licenses for mobile sports betting. The Commission has been accepting applications since October 21 and will make the big reveal during their meeting on November 21.
Though the exact launch date for mobile sports betting in Maryland isn't set in stone, the operators that secure licenses first will be the pioneers in offering this new service to residents. Online betting isn't far behind either.
The green light for sports betting in Maryland was given about two years ago, and since then, the state government has been carefully crafting the necessary laws and regulations. Retail sports betting made its debut in Maryland in December 2021, which saw a massive $16.5 million in wagers in just the first month alone.
For the fiscal year 2022, Maryland managed to gather $2.9 million in tax revenue from sports betting, an impressive figure given that the market wasn't launched until late December 2021. In August 2022 alone, sports betting generated approximately $477,000 in revenue for the state. With the addition of mobile and online betting, those numbers are expected to skyrocket.
Application Review Process Could Take Time
As of now, the Commission has received a total of 10 applications for mobile sports betting licenses before the October 21 deadline. The review process is going to be extensive, with background checks on companies and data provided. However, since leading operators like FanDuel, BetMGM, Caesars Sportsbook, PointsBet, BetRivers, and Barstool have already been granted retail sports betting licenses, their applications might not require a fresh round of background checks.
This could potentially speed up the process, making it more likely for these operators to be the first ones to launch their mobile betting services in Maryland. Other mobile sportsbooks that are operating in Maryland include Fanatics, ESPN BET, Bally Bet, Let's Bet MD, and betPARX.
For specific announcements from the Commission's meeting on November 21, you may want to check official SWARC communications or news reports from that period. Stay tuned for more updates on the Maryland mobile sports betting landscape!
- The Sports Wagering Approval Review Commission is expected to announce the first mobile sports betting operators to receive licenses in Maryland during their meeting on November 21.
- The review process for the mobile sports betting licenses is extensive, with background checks on companies and data provided.
- Leading operators like FanDuel, BetMGM, Caesars Sportsbook, PointsBet, BetRivers, and Barstool, who already have retail sports betting licenses, might not require a fresh round of background checks, potentially speeding up the process.
- In late November, Maryland is set to launch mobile sports betting, with operators who secure licenses first expected to be the pioneers in offering this new service.
