Maryland is the latest to join a growing number of states looking to cash in by legalizing sports gambling, as Governor Larry Hogan prepares to sign a bill opening the state to sports bettors.
The governor plans to sign a bill that would grant in-person sports betting licenses to several prominent Maryland sporting and gambling venues such as casinos, Pimlico Downs, Laurel Park, and the stadiums for the Baltimore Orioles, the Baltimore Ravens, and the Washington Football Team.
According to the Baltimore Sun:
Up to 30 additional in-person betting licenses would be available for off-track betting facilities, the Maryland State Fairgrounds in Timonium and large bingo halls. Businesses with fewer than 25 employees and less than $3 million in sales would pay less for their licenses than bigger operators.
Additionally, up to 60 licenses would be issued for mobile and online sports betting, which are highly desired because the bulk of sports betting in other states is via mobile apps, also known as ‘skins.’
States that have legalized sports gambling have reaped huge financial rewards.
As Breitbart’s Warner Todd Huston reports, “The biggest states for sports gambling tax revenue are Nevada, Pennsylvania, and New Jersey. Nevada pulled in more than $61 million in taxes last year, while New Jersey saw $118 million. Pennsylvania reaped the biggest reward with an additional $124 million in new tax dollars, according to LeagalSportsReport.com.”
Hogan is expected to sign the bill in a ceremony at the State House in Annapolis Tuesday afternoon.