Legalized sportsbetting in Maryland got one step closer to reality as a bill regulating the activity passed through the House of Delegates and will be headed to the Senate floor.
The bill was introduced after voters in the state voted to legalize sportsbetting during the 2020 General Election. The bill has been debated and voted on in the House and will now move to the Senate where it'll undergo further debate and voting. If it passes there, it will move to the Governor's desk where it will be signed into law.
The verbiage of the bill would allow 22 physical spots in the state to offer retail sportsbetting to those physically located in the state. Three stadiums located in Maryland would also be able to house betting kiosks to facilitate bets. Online betting would also be available, with the bill offering up 15 online licenses for operators to snag.
Licensees would get to keep 85% of revenues on the first $5 million generated, or 82.5% if revenues are in excess of $5 million.
We're following this story and will be updating readers as the bill progresses.