Maryland: ten mobile sports betting applications move forward
The Sports Wagering Application Review Commission approved diversity plans from ten companies.
US.- The Maryland mobile sports betting market opened on November 23 and the state’s Sports Wagering Application Review Commission (SWARC) approved the diversity plans of ten sports wagering licensees, after their Wednesday meeting. Currently, seven mobile sportsbooks are live in Maryland.
The SWARC required licensees to share information related to creating a diverse ownership group, as well as proposed timelines to reach diversity objectives. Those licensees were required to submit within 30 days of receiving their wagering permit.
“It’s been a long couple of years to get to this point, and I think we’ve got some real substance in those plans,” SWARC chairman Thomas Brandt Jr. said. “Now it’ll be on us to monitor that the execution matches the plans.”
The ten entities that had their diversity plans approved were:
- Bingo World (BetRivers)
- BetMGM
- DraftKings
- Horseshoe Casino Baltimore (Caesars Sportsbook)
- Greenmount OTB (betPARX)
- Long Shot’s (Betfred)
- Maryland Stadium Sub (FedEx Field/Fanatics Sportsbook)
- PENN Maryland/Hollywood Casino Perryville (Barstool Sportsbook)
- Live! Casino & Hotel (FanDuel)
- Riverboat on the Potomac (PointsBet)
Last week, Maryland Lottery and Gaming Control Agency (MLGCA) reported figures from the first full month of sports betting.
According to the report released by the MLGCA, Maryland online sports betting from the seven operators took in $478.3m in bets in December, while retail sportsbooks accounted for $18.8m. Overall, the total handle for all sports betting in the state was $497.1m.
The state is still waiting for launches from Fanatics, Parx Interactive and BetFred. The MLGCA also recently found both Bally Bet and WynnBET to be qualified to hold Maryland online sports betting licences.
Maryland’s Sports Wagering Application Review Commission (SWARC) awarded the two operators with licences at its December 14 meeting, but they still have to go through regulatory testing with the MLGCA before officially being allowed to launch.
Maryland Lottery director, John Martin, said that by the start of the 2023 NFL season, he expects up to 21 online sports betting operators and between 15 to 20 retail operators to be live in the state.
Maryland governor Larry Hogan has estimated that the state could see $30m in revenue in 2023 and almost $100m by 2027.
