Maryland Announces Its Official Betting Law

The keluaran sgp of Maryland has taken a stab at the online sports betting scene. As a result, it is home to the largest number of online sportsbooks of any state. Some have gone online in the past couple of years while others have been waiting for the dust to settle. While it’s not clear what will happen when the state formally legalizes the business, it’s safe to assume that the state’s casinos are not reaping the benefits of their sportsbooks’ monopoly status. In October, the state lottery and gaming control agency announced that it had collected $984,308 in sports wagering tax revenues for school funding.

A few months later, the state Senate approved the state’s first bill that would let the general public partake in online sports betting. In the process, the legislature approved a small number of retail sportsbooks. It’s expected that the lion’s share of sportsbooks will be located in the Baltimore area and the state’s gambling capital of Annapolis. However, the newfound legal gambling business is not without its challenges.

Notably, the official Maryland Lottery and Gaming Control Agency did not release the total amount of tax revenue the state expects to collect, although estimates suggest it will be close to half a million. This makes the state a bit more competitive than its neighbor, but the state’s casinos are still largely left out in the cold. One can only hope that the state will get the opportunity to recoup their lost revenue before sportsbooks go live in the near future.