Maryland set to welcome sports wagering in September

Oct 2, 2020; Baltimore, Maryland, USA; A view of the Betting Area sign at Pimlico Race Course. Mandatory Credit: Tommy Gilligan-USA TODAY Sports

Sports wagering is on its way to Maryland, with the state’s legislature sending a bill to Gov. Larry Hogan that would have licensed operators up and running by the start of the 2021 NFL season, SBC Americas reported Wednesday.

The bill is considered one of the broadest in the country with as many as 60 online operators that could be open for business on Sept. 1. There will also be 30 retail sportsbooks allowed to open at either casinos or professional sports stadiums like the Baltimore Orioles’ Camden Yards and the Baltimore Ravens’ M&T Bank Stadium.

Major retail and online sportsbooks will pay more in fees to operate in the state. Those will be subject to a 15 percent tax and a $250,000 licensing fee. Secondary retail licenses will be subject to a 13 percent tax and a $50,000 license fee.

There is also a $50,000 annual charge for major sportsbooks, dropping to $10,000 for smaller entities. An application fee alone will run $500,0000.

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–Field Level Media