Maryland Lottery gives Fanatics initial approval for sports betting licence

Fanatics would become the 10th entity to receive a sports wagering licence in Maryland.
Fanatics would become the 10th entity to receive a sports wagering licence in Maryland.

The firm still needs approval from the Maryland Sports Wagering Application Review Commission (SWARC).

US.- The Maryland Lottery and Gaming Commission has given Fanatics initial approval for a sports wagering facility operator licence. The firm still needs approval from the Maryland Sports Wagering Application Review Commission (SWARC) before it can launch a retail sportsbook in the state.

If Fanatics receives a licence approval from the SWARC, it would become the 10th firm to receive a sports wagering facility licence in Maryland. Digital marketing agency MediaTroopers was recently awarded a licence to operate sports betting and casino services in Maryland.

Last week, Maryland governor Larry Hogan said he wanted mobile sports betting in time for NFL. He urged the state’s Sports Wagering Application Review Commission (SWARC) to “immediately accelerate and intensify” their work to have mobile sports gambling to be up and running by September, in time for the NFL season.

Hogan signed a bill to legalise both online and retail sports betting in Maryland last year, after voters approved sports betting through a November 2020 referendum. Retail betting has been available for six months, but online sports betting has not yet launched.

Maryland casinos see revenue rise in May

Maryland’s casinos registered $178.8m in gaming revenue in May, an increase of 3.7 per cent compared to May 2021. It’s the second-highest monthly gaming revenue total since July 2021, when the casinos generated $180m. In April, the casinos registered $170.7m in gaming revenue.

More than $73.4m of revenue in May, roughly 40 per cent, was contributed to the state. According to the Maryland Lottery and Gaming Control Commission, the state’s six casinos generated over $53.4m for Maryland’s Education Trust Fund (ETF), $137,334 more than the ETF contributions for the same month last year.

In this article:
Maryland Maryland Lottery and Gaming Commission sports betting