After a lot of haggling from all sides, sports betting in Maryland is moving forward, entering a next phase. The sports betting bill is currently before the Maryland Senate, and is being fine tuned before it gets on the November ballot.
The sports betting bill in its present format would allow sports betting on college basketball, and all professional sports including the Super Bowl. Lawmakers in Maryland have been holding public meetings to allow residents to voice their opinions and concerns about sports betting.
A source said that the overwhelming response from the communities has been positive. If the sports betting bill is approved by the voters, it would mean sweeping changes for the gambling operations in the state. There would be sports betting at Pimlico Race Track, Laurel Park and the Maryland State Fair Thoroughbred horse racing tracks. Sports betting would also be present at the state’s six casinos.
Lawmakers Are Confident That The People Of Maryland Will Approve Sports Betting
There would also be sports betting at the Redskins football stadium in Prince George County. However, lawmakers said that the stadium would have to go through substantial renovations in order to bring the stadium to code for sports betting. Something that the citizens expressed an interest in during the meetings is online sports betting options.
There will be online sports betting through apps, that would be affiliated with physical locations. Like many states currently have, a person would have to go to the location physically to set up an online account.
Sports betting providers that have licenses in Maryland would be allowed to keep roughly 80% of their profits. The remaining 20% would go to the state of Maryland to be used for the ‘Education Trust’ which runs the public schools in the state.
The main sponsor of the bill is Democratic Senator Craig Zucker who represents the 14th District. Senator Zucker said according to a fact-finding group that was organized by the Governor, sports betting would bring the state $20 million dollars in tax revenue each year.
The Sports Betting Bill Has Bipartisan Support From The Maryland Legislator
Senator Zucker who hails from Montgomery County, said ‘the sports betting revenue that state would be able to capture is much needed. He went on to explain that several schools have been in disrepair and those dollars coming into the state would be a huge bonus.’ Zucker was fast to point out that ‘there are regular sports betting players in Maryland. They can go to nearby states and place their bets, or they do it offshore.
This has been going on for years, and it’s lost income. It’s long overdue that the state of Maryland starts to benefit from that revenue. Neighboring states to Maryland where sports betting is legal is Delaware, Pennsylvania, West Virginia and the District Of Columbia. .Zucker said as ‘Maryland has been going back and forth on sports betting, 16 other states have sports betting up and running and have been reaping the rewards.’