Maryland has opened its doors to sports betting as the Maryland Lottery and Gaming Control Agency issued a statement in which it confirmed that operators can submit their applications. According to the statement, there will be 30 retail and 60 online sportsbook licenses up for grabs.
Businesses Will Have 45 Days to Submit Their Applications
The Sports Wagering Application Review Commission (SWARC) greenlit the application process and operators will be able to apply for mobile and Class B facility sports betting licenses. According to the commission, businesses and individuals will have 45 days to submit their applications.
October 21 is the deadline day for submitting these applications. Additionally, applicants are also required to submit all documents needed for their investigations into the eLicensing system of the Maryland Lottery and Gaming Control Agency. These documents need to be sent no later than 30 days after their applications have been submitted to SWARC.
John Martin, the director of the Maryland Lottery and Gaming Control Agency, shared his thoughts on the development. He said that the agency has been aware of the fact that sports fans in the state are “eager to have mobile wagering.”
He also added that with legal sports betting, funding for education will be greatly increased. In terms of when sports betting will be launched, Martin noted that there’s a good chance that the job will be finished by the end of 2022.
SWARC Will Need 45 More Days to Review Applications
After the application deadline day passes (October 21), SWARC will likely need up to 45 days to review the applications. During this time, the Maryland Lottery and Gaming Control Agency will complete its investigations to conclude if the operators are qualified to receive a license.
Operators will be licensed by SWARC only after the Maryland Lottery and Gaming Control Agency issues the green light.
While speaking on the background checks, Martin said that some of the businesses that want to receive a license have already submitted the required documents and noted that the agency will work hard to expedite its part of the process and commence mobile betting as soon as possible.
After mobile betting is regulated, the sports betting handle and revenue are set to increase. Increased revenue means more contributions, which will benefit the community.
In FY2022, gambling establishments ended up bringing in $1.5 billion in contributions. In terms of the launch date, officials hoped to have mobile betting up and running by the time the NFL season starts, however, those plans went into the ground.
Del. Darryl Barnes, Legislative Black Caucus’ chair, said that everyone would’ve loved for sports betting to commence just in time, but at the end of the day, the main goal is to launch the industry and as long as everything goes smoothly, there’s no issue with launching it later than expected.