When Will Maryland Legalize Sports Betting?
Sports betting has gained increasing popularity over the recent years, and many states in the United States have already legalized it. Betting on sports, including football, basketball, baseball, and hockey, has become a multi-billion-dollar industry in the country.
One of the states eyeing legal sports betting is Maryland. There have been various discussions and proposals in Maryland’s legislature to legalize sports betting in the state.
In 2020, legislators introduced new legislation to legalize sports betting in Maryland. The bill proposed legalizing sports betting for both in-person and online platforms, and it included provisions on how to tax and regulate the industry.
However, the COVID-19 pandemic delayed the hearings of the bill. The legislators needed to prioritize dealing with the pandemic and addressing other crucial issues at the time. It led to Maryland missing the deadline to include sports betting on the 2020 ballot.
But the delay in legalizing sports betting in Maryland was not necessarily a bad thing, as lawmakers had more time to refine the bill and ensure that it was more comprehensive.
Earlier this year, the Maryland House of Delegates approved a sports betting measure, which would allow for online and in-person betting. House Bill 940 allows retail and online sports betting licenses for nine casinos and major sports stadiums in the state.
The bill was later passed in the Senate, and it awaits a signature from Governor Larry Hogan, who is expected to sign it into law. Once he signs it, sports betting will be legalized in Maryland.
Maryland is among the states with more than five million residents and six professional sports teams, making it a prime market for sports betting. The legalization of sports betting in Maryland will bring in significant tax revenue for the state, which can be used to fund various infrastructure projects and support local authorities.
Additionally, sports betting will lead to the creation of job opportunities, as more casinos and sportsbooks open up following its legalization. Besides, sports fanatics in Maryland will no longer have to travel to neighboring states to place bets on their favorite sports teams.
In conclusion, Maryland is on the verge of legalizing sports betting, and it is only a matter of time before Governor Hogan signs the bill into law. The legalization of sports betting in the state will bring significant tax revenue and create job opportunities. It is good news for sports betting enthusiasts and the state’s economy at large.