Maryland mobile sports betting moved a few steps forward on Wednesday after the Sports Wagering Application Review Commission (SWARC) approved regulations and applications during a special meeting.
“I want to thank the commissioners for making time a week earlier than planned, said Thomas Brandt, SWARC chairman.
SWARC members wasted no time during the 22-minute meeting on July 13 quickly approving the proposed sports betting regulations and applications for Maryland’s sport betting industry.
Now that the regulations and applications are approved, “our commission can submit them to the Mayland legislature’s Joint Committee on Administrative, Executive & Legislative Review for emergency approval and then begin the 30-day public comment period,” Brandt said.
“Once the emergency SWARC regulations become effective and the industry analysis is completed, SWARC can set a date when formal applications and fees may be submitted,” Brandt said. “Then we’ll be in a position to set a timeline for additional actions.”
After providing a quick reading of the draft regulations during a SWARC meeting on June 29, Jim Nielson, deputy director/chief operating officer for Maryland Lottery and Gaming Control Agency, noted important guidelines for submitting an application when it comes time.
“The most important thing for the SWARC application is it must be timely,” Nielson said. “Once the due date and time are set, if an application or the application fee is not accepted on time, the application is invalid, and people really need to understand that.”
Fees are $500,000 for a mobile license and $50,000 for a competitive retail license. There will be 60 mobile and 30 retail licenses available in Maryland.
Maryland June handle
Sports bettors wagered a total $19,121,331 over Maryland’s five retail facilities in June. The facilities awarded $17,811,497 as prize money to bettors, leaving a hold of $1,309,834. After paying winners and deducting promotional play and other amounts, $1,262,156 was left as a taxable win.
Each sports wagering licensee contributes 15% of its taxable win to the state. That left $189,323 to be transferred to the Blueprint for Maryland’s Future Fund to support public education programs in the state.
Sports wagering has contributed a total $2,883,065 to the Blueprint for Maryland’s Future Fund since retail sports betting started in the state in December.
MGM National Harbor, Live! Casino, Horseshoe Casino, Ocean Downs Casino and Hollywood Casino opened sportsbooks between Dec. 9 and Dec. 23. Additional facilities are expected to open in the near future.
