Maryland AG raises awareness of potential online sports betting scams
Maryland attorney general Anthony Brown said bettors should be wary of online sports betting companies and scams.
US.- Maryland attorney general Anthony Brown has issued an alert urging Marylanders to watch out for deceptive online sports betting companies, especially in advance of large-scale popular events.
“Deceptive practices and scams have the potential to overshadow the excitement of sports betting and leave Marylanders vulnerable to financial losses,” said Brown. “I urge all Marylanders to remain vigilant, conduct thorough research, and exercise caution to avoid financial loss due to misleading tactics. We will protect Maryland residents and their hard-earned money from deception by online sports gaming companies.”
AG Brown offers the following tips to protect consumers from misleading information peddled by sportsbook platforms:
- Learn what other users are saying about the platform: check consumer reviews and ratings with the Better Business Bureau (www.BBB.org). The BBB complaints are often detailed and include responses from the platforms.
- Read the fine print, especially on all promotions and bonuses.
- Read all the conditions placed by the sportsbooks that may limit how and when bettors are able to cash out their winnings, or if the sportsbook will penalise bettors – such as freezing accounts –for certain activities and strategies they may use to increase their chances of winning.
- Remember that there is no such thing as a completely risk-free bet, or free money.
- Use official websites of established sportsbooks that have been approved by Maryland’s Lottery and Gaming Control Agency.
- Ignore online gambling pop-up ads and unsolicited emails, text messages, or social media messages. even if these look like they are coming from a legitimate sportsbook
- Report suspected scams to Consumer Protection Division.
Sports betting in Maryland
Maryland’s sports wagering market launched in December 2021, with the mobile sports betting market opening on November 22 2022. The 10 retail and nine mobile sportsbooks saw a handle of $328m in April, according to figures released by Maryland Lottery and Gaming Control Agency (MLGCA). The mobile handle accounted for 95 per cent of the total at $313.4m.
Activity in April was down 15.3 per cent compared to March’s $370.3m. GGR was $35.6m,representing a 10.9 per cent hold rate. Taxable revenue was $25.7. Maryland taxes sportsbooks 15 per cent, giving the state $3.8m for April.
