The matter of allowing sports betting depends on what the people wants. Which is why this past election, Question 2 in the state ballot was asking Maryland residents if they want to legalize sports betting. And with a 2-1 margin, Maryland approves sports betting. The referendum is a simple yes or no question. It has no mention of retail or sports betting software and regulations.
The legislators of the state will now have the task of finalizing everything. Regulations, tax rate, licensing fees, and so on. So far, all we know is that the tax proceeds will benefit education programs, same as from slot machine collections from casinos located in the state.
Maryland Approves Sports Betting: What to Expect
Many people are interested in getting into the sports betting industry. By learning about the industry and finding good betting software from bookie pay per head reviews, it will be easier than expected. And if you complement this with online marketing services, it will be very easy to promote online sports betting services.
For Maryland, we still do not know what channels of sports betting we will be seeing in the future. Previous hearings on the matter discuss giving licenses to existing gambling shops. This means casinos, horse racing businesses, certain sports venues, and similar locations. There were also talks of offering online sports betting licenses.
What’s Next in Maryland
Now that the state allows sports betting, the next step belongs to the legislature. Both the house and senate now have the job of coming up with sports betting regulations in 2021. So far, Governor Larry Hogan (R), has let it known that he will sign what the legislature will send his way. Of course, the sooner they come up with a law that defines wagering in the state, the sooner they can get a local industry started. Given the fruitful industries in states nearby Maryland, the state could stand to collect a lot in revenues and licenses when this happens.