Maryland sports betting continues to make progress, with the Maryland Lottery and Gaming Control Agency Director John Martin telling a top regulator that he expects late fall for launch.
Mentioning recent hearings by SWARC-an appointed board tasked with licensing before MLGCAs performs background checks on applicants who are awarded competitively bid licenses–the state’s gaming official says there has been “positive momentum” since this past weekend’s meeting which took place June 4th.
The list of entities that have applied to operate a sportsbook in Maryland is growing. The criteria for this license includes six casinos, six off-track betting locations and bingo halls from across the state as well as three professional teams or their affiliates who will be able participate through those applications with just one representative each on site at any time during operations (MSFA). In addition there’s two horse racing tracks sharing space under one roof so owners can race both turf horses colonially too!
The Maryland Sporting Events Authority has been working on finalizing regulations for sports betting since this past summer. They plan to have them in place by early November and 17 retail licenses will be issued so that operators can get started as soon as late fall if not sooner! There’s also 60 mobile gaming permits available, which bids can win after the public comment period closes next Monday night (which we’re hoping won’t take long).
Matthew Bennett, a policy analyst at the Maryland Department of Legal Services (and member of SWARC) went over various costs and requirements for obtaining your license. He indicated that there are 30 Class B licenses up for competitive bid–the sports betting legislation dictates they give preference to minority-owned businesses or women-led small business in order to encourage more diversity within this industry; however you still have options if neither apply! Some obligations outlined by Mr.Bennett include: application fees ($100), background investigation($500), licensing cost on employees’ side including performance bonds when appropriate ($75 – $300). Out surveillance equipment would depend upon how much risk has been forecasted which can range anywhere.
There are three grant types that minority-owned businesses can qualify for through the Small, Minority-Owned Business Sports Wagering Assistance Fund. Class A license fees contribute to this fund–if you’re looking for some help with your business endeavors and would like more information on how these grants might be able to assist in achieving success then I encourage contact!
The assistance fund can reimburse up to 50% of license fees and background checks, including $25K for B-1 licenses that require less than 10 employees per year. Mobile sports bookies need only pay in the neighborhood of 500k annually; meanwhile Class B (for establishments with fewer than 25 employees) requires an additional application fee as well – all depending on what kind you’re looking at!
The two other grants under the Sports Wagering Assistance Fund go toward sports betting operating and training. Those funds can reimburse up to 50% of eligible costs, with a maximum reimbursement cap per grant at $50,000 for both types (operating support or employee education). The type that covers what it says on its tin; this covers anything from software purchase direct labor hours spent in getting an integrity certification all way down to conference registration fees – everything you need if running your own shop!
Legal guidance for sports betting licenses
The Safe and Fair gullible Gamers (SWARC) is a non-profit organization that provides legal support to consumers of online gaming services. On May 2nd, they broke into their closed meeting after presentations by Zenita Wickham Hurley from Maryland Office of Attorney General and Cheryl Brown-Whitfield principal counsel at MDOT on how race or gender conscious government programs work in order regulate themselves without violating anti discrimination laws while also creating new ones if needed so all can play nice together!
Next steps for MD sports betting
Following the closed session, consulting firm Taft Stettinius & Hollister Chair Cezar Froelich offered some thoughts moving forward. He believes that next year’s election will be pivotal in finally legalizing and regulating this exciting new industry which is set to generate $150 billion dollars annually by 2028.”