Maryland's Mobile Wagering Delay Could Cost State Millions

If legal mobile sports betting platforms launch in Maryland during the 2022-23 NFL season, it'll likely be in the postseason, perhaps shortly before the Super Bowl. That means, despite voters legalizing sports betting through a 2020 referendum, another football season could pass without available mobile sportsbooks.'

Retail sports wagering options launched in December of 2021 at five Maryland casinos, so there are legal in-person sports betting options available to Marylanders. Regardless, the majority of bettors in most states use mobile platforms rather than going to physical sportsbooks to place wagers.'

No available legal mobile platforms this fall means Maryland is missing out on tax revenue.

Retail betting generates some tax revenue

In Maryland, tax revenue generated from sports betting goes to the Blueprint for Maryland's Future Fund, which puts money toward improving public education in the state. Maryland taxes gross sports betting revenue at 15%, and through July, $3.2 million has been raised for the fund through sports betting since retail locations launched in December of 2021.'

  
Read Full Article