Maryland is one of the states that is pushing for a mobile sports betting market as they see the potential revenue the operation could bring.
Its officials announced Monday that the Maryland Sports Wagering Application Review Commission will award licenses for mobile sports betting on Wednesday.
The Old Line State Looks to Speed the Operation
The meeting was scheduled for next week, but due to the demand, the SWARC has decided to move it up a week. SWARC Chairman Thomas Brandt stated in a press release;
“We had originally planned our next meeting to be November 21, but we’ve been working with our consultants from Taft Stettinius & Hollister and Spectrum Gaming Group to accelerate the pace and hold it earlier.”
An earlier date means sportsbooks could launch their mobile platforms sooner than anticipated. In the previous news, it was speculated that the mobile market would launch in December or early next year.
The sportsbooks and entities that were deemed as qualified included Barstool Sportsbook, Betfred, BetMGM, betPARX, BetRivers, Caesars Sportsbook, DraftKings, Fanatics, FanDuel, and PointsBet. Fanatics will mostly launch their platform in January. The CEO is thankful that they didn’t receive a bid in New York as the operation would have proven to be costly.
Fanatics will also have time to gain more market access and market share in the industry. This will give the company more time as monopolizing the sports betting market in California is still up for grabs as neither measure passed.
When Could Mobile Sports Betting Take Place in Maryland?
Currently, the state only offers retail sports wagering for its residents. Even though these locations have registered high hold rates since its inception, Maryland is far from reaching its potential.
Maryland’s neighboring states, like Pennsylvania, Virginia, and West Virginia, have been a part of the industry for a while. Pennsylvania and Virginia are some of the most prominent markets in the industry.
Bettors in the Old Line State could place wagers online before the Thanksgiving football games if everything goes according to plan. These entities may not be able to accept wagers right away, but this is a major step in the right direction.
After the Commission awards these licenses, the Maryland Lottery will be able to identify a start date. The last step will involve a controlled demonstration in order to make sure the operation is running smoothly.
Maryland is Making Major Strides in the Sports Betting Market
The process will take a few days, but mobile sports betting will find a permanent home in Maryland. Even with a retail market, it’s difficult for the mass majority of residents to visit a casino or gaming facility to place wagers throughout the year.
Without a doubt, online sports betting will make the majority of the monthly handles moving forward. Some jurisdictions across the industry report monthly handles that make up 99 percent of all bets placed in any given month.
This will also get bettors to move away from offshore betting sites while giving consumers more options to wager on. As of right now, it’s just a waiting game as supporters of mobile sports betting are close to getting their wish in Maryland.