Many states that recently legalized sports betting have targeted the NFL season opener on August 9 between the Buccaneers and Cowboys as a launch date. The NFL brings in a vast amount of sports betting revenue because of the popularity of the league in the United States.
Maryland intended to launch sports betting by the beginning of football season, but this will not occur. The state’s sports betting market is a work in progress that will be tough to fix by the opening weekend of games. Maryland will still benefit from football season in its first year of legal sports betting, but this will set the state back in terms of revenue.
Sports betting delayed in Maryland
The Sports Wagering Application Review Commission held its first meeting to determine which businesses will receive licenses on Monday. Sports betting in Maryland was passed with the intent of giving permits to minority business owners so the state could have a massive market.
Delegating a large number of licenses takes time, so the commission must work quickly to launch in a reasonable time frame. The group is working alongside the Maryland Lottery and Gaming Control Commission to handle the background checks and issues on license applications.
Another step that needs to occur before Maryland sports betting goes live in the publishing of the rules. The regulations must be scribed in the Maryland Register, and a 30-day public comment period will follow. The commission’s goal is to launch Maryland sports betting by the end of the month.
Industry experts thought the state had a chance to launch sports betting by the NFL season, but Governor Larry Hogan declared that this is no possible. In a recent interview, he emphasized that prime NFL betting season is during the playoffs, so he has set a launch by this time as a necessity.
Hogan said, “I pressed them pretty hard about making sure we get it done at least by the end of football season when all the betting takes place, really, in the playoffs and the Super Bowl.”
Hogan signed Maryland sports betting into law in May of 2021. The state has not worked fast to launch by football season, but lawmakers are on the same page for the market. The goal is to go live by the World Series in October, if possible, for numerous legislators.
Sports wagering application review Commission’s first meeting
The first meeting for the Sports Wagering Application Review Commission began with a background on the committee’s purpose and how it was instituted. The group made one significant action on Monday, and that was assigning designated licenses to the Maryland Lottery and Gaming Control Commission.
Designated licenses also have an option for retail sportsbooks that should open before mobile betting’s launch. For non-designated permits, it could take 24 months from May of 2021 for final approval.
This means the Maryland market will continue to grow over the next two years. The committee can award 30 Class B permits and 60 mobile betting licenses. It’s unlikely that a state like Maryland will receive applications for this many licenses, but the opportunity is available.