Sports betting is on today’s ballot in Maryland. Today is the day whether or not Maryland can move forward with legalized sports betting. The state is the last one among the Atlantic states to legalize the new industry, and tonight could be the night that Maryland gets it done.
The state has been in the works trying to get sports betting passed, and after strong support early on, that has slowed down thanks to confusion in sports betting regulation.
Lawmakers are still not certain how the industry will be regulated, but many are still confident these issues will smooth over once a bill is passed. Today, Maryland voters will need to “yes” to question 2.
What Will Maryland Sports Betting Look Like?
The question that needs to be answered yes in Maryland.
“Do you approve the expansion of commercial gaming in the State of Maryland to authorize sports and events betting for the primary purpose of raising revenue for education?”
This is the question that is being proposed to pass sports betting. The state will be using gaming revenue to help fund education in the state. Multiple states have used this approach that if you are going to be on sports, you will help fund the state’s school systems.
If sports betting is passed on Election Day, it will most likely launch before football season in 2021. The state would then have to go through an application process to approve sportsbooks in the state and touch up some regulatory issues.
COVID has slowed some of this down, but Maryland lawmakers expect to be full steam ahead if sports betting passes on Tuesday. The state would most likely allow close to 10 operators along with mobile betting legalization.
There has been an estimated $3.8 million in total that has gone to campaigns to support legalized sports betting. DraftKings and FanDuel alone raised $1.5 million for the cause, and legal sports wagering supports also raised an additional $3 million. Opposition against sports betting was $0 in the state.
Despite some confidence being lost in the idea of legal sports betting, Maryland should pass the betting bill on Election Day.
How Will this Effect Surrounding States?
West Virginia, Pennsylvania, Delaware, and Washington D.C. are bordering states on Maryland, and all have legal sports betting. Virginia also passed sports betting this year and will most likely launch in early 2021. New Jersey and Atlantic City is also not a far drive from the Maryland border, and New Jersey is becoming one of the largest sports betting states in the U.S.
It is key for Maryland to pass sports betting tonight!
If they do, they will be able to keep betting revenue in the state instead of leaving to be bet elsewhere. States who passed sports betting before its neighboring states did saw millions in revenue with people driving over the border to bet.
Now, Maryland will be able to capitalize on its own market, and the people from the state seem to be in favor of the industry. Look for Maryland to legalize sports betting and become another state on the list.