Maryland’s Vision for a Robust Sports Betting Landscape
In Maryland, a state that doesn’t even rank in the top 20 in terms of U.S. population, there’s a burgeoning ambition to lead the nation in the number of sportsbooks. The state’s legislation currently allows for a staggering total of 107 sports betting licenses, including 60 for mobile betting, 30 for retail establishments, and 17 for specific brick-and-mortar locations. However, the reality falls significantly short of this potential, with only 13 retail sportsbooks and 12 mobile betting apps currently operational.
The Push for Expansion by State Delegate Jason Buckel
State Delegate Jason Buckel, a Republican from Allegany, is championing the cause for expanding Maryland’s sports betting industry. He argues that the Maryland Lottery and Gaming Control Agency’s hesitance to issue new licenses is a major barrier to realizing the state’s full betting potential. Buckel points out the existence of numerous “dead spots” in sports betting availability across the state, including in populous areas like Montgomery County. He advocates for reopening the application window for new licenses, which could potentially include bars and restaurants, to fill these gaps.
Challenges and Realities in the Sports Betting Industry
Despite Buckel’s enthusiasm, there are significant challenges and realities to consider. John Martin, the director of the Maryland Lottery and Gaming Control Agency, notes that there’s currently no legal provision for another enrollment period for licenses. He also suggests that the industry might see further consolidation, questioning the sustainability of operating 107 sportsbooks in the state.
Comparisons and Expectations
Maryland’s sports betting ambitions can be contrasted with New Jersey, which has a larger population and a more established sports betting market. Even so, New Jersey has only filled 25 of its potential 45 sportsbook licenses. Maryland’s actual tax revenue from sports betting in 2022 was around $25 million, far below the initial estimates of up to $100 million annually.
The Future of Sports Betting in Maryland
The future of sports betting in Maryland remains uncertain. While there’s a push for expansion and the potential for Maryland to become a significant player in the sports betting industry, the realities of market consolidation, legal constraints, and the actual performance of the industry paint a more complex picture. The debate continues on how best to balance the ambition for growth with the practicalities of the market and regulatory environment.