Operators begin promoting the future of mobile sports betting in Maryland

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After months of inactivity, mobile sports betting is coming Maryland is fast approaching.

Applications for mobile sports betting in Maryland are due Fridaywith regulators expecting at least some operators to launch by the end of the year. FanDuel Sportsbook tweeted this week it’s awaiting launch in Maryland “very soon.”

Caesar’s Sportsbook announced last week that it submitted its online operator application earlier this month, surpassing targets for minorities and women set by lawmakers last year. Maryland regulators also recently published comments received during their open public comment period on the MD mobile sportsbook regulations.

Suddenly a fast pace to start

Maryland voters approved sports betting November 2020with legislators making laws May 2021. While sports betting opened in retail December 2021the regulatory commissions hoped to include specific requirements for the participation of minorities and women in the sports betting industry.

This summer, Governor Larry Hogan pressure exerted on the Examination Committee for Sports Betting Applications to speed up the process this summer, albeit with little success. After an additional disparity study was completed Augustthe regulators found that they could not impose specific requirements on applicants.

Once SWARC made that decision, they set the pace to bring mobile sports betting to the super bowl. The supervisory authorities opened the application procedure in September.

Caesar’s application for sports betting in Maryland

Caesars was the first operator to announce its bid for one of up to 60 Mobile Sportsbook Licenses in Maryland. The ownership structure announced by the operator will fall under this 40% diverse ownership.

“This is a real hometown application,” Caesars Digital President Eric Hess said in a publication. “We are very pleased that we have structured our application to not only reflect our corporate mission of promoting diversity, equity and inclusion, but also be consistent with the spirit of Maryland’s sports betting legislation, which seeks to create ownership opportunities that otherwise possible would not exist.”

The license application, owned by Caesars Horseshoe Casino Baltimoreincludes:

  • PRT 2 digital: a Baltimore-based partnership with local business people
  • Letha Christian
  • Caesar’s entertainment

“Caesars’ success in creating a significant minority stake in its sports betting program is tangible evidence that the General Assembly’s deliberate drive to create diversity in new markets can succeed,” Adrienne A. Jones, Speaker of the Maryland House of Representatives said in the publication.

Complaints about MD sports betting regulations

This month, SWARC released comments from its 30-day public comment period after the Legislative Commission approved the emergency regulations 2 Sept.

There were no major comments that would further delay the process. Still, some expressed displeasure with the lengthy process to get mobile sports betting off the ground.

“What in God’s name is taking so long,” said one commenter. Kris Sankara, wrote. “I understand you’re trying to help the little guy, but this is a stupid fight. The big mobile betting companies are the trusted ones. No one will use an unfamiliar book to bet on because there is no credibility. So issue the licenses now and stop wasting your time and money.”

Main Commentary in Maryland

While most comments were unfounded, some criticized the requirement that this be the case 5% of the applicant must have a personal net worth of less than $1.847 million. Among those who criticized the requirement was bet365.

“Any restrictions on operator participation in the industry that are not based on considerations of suitability or experience risk adversely affecting government-generated tax revenues and customer choice in an otherwise robust and competitive industry,” bet365 Legal and Regulatory Counsel Robert Moncrief Jr. wrote.

Other commenters were puzzled by the lack of guidance on diversity and inclusion requirements, which was a significant concern until the motions were published.

Retail sports betting in Maryland is on the rise

Retail Sports Betting in Maryland took $31.4 million in bets in September.

The operators stopped 21.2% a month for $6.6 million in sports betting income.

The FanDuel Sportsbook below Live! casino went ahead $12.7 million in bets in September.

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