Maryland Online Sports Betting Off to a Fast Start

Maryland Online Sports Betting Off to a Fast Start

Last updated on December 4th, 2022 at 05:15 am

State regulators will approve three new applications for Maryland online sports betting licenses. Also, they include two operators related to two of the licenses. The three new operators will venture into a market that saw good performance during the Thanksgiving weekend.

While there are no official preliminary figures, GeoComply reported had 477,000 unique users. Also, they made 16.5 million online sports bets in Maryland between November 23 and November 27.

According to sports betting solutions specialists, about 4 million bets were placed on Thanksgiving Day.

Maryland Online Sports Betting Market

Maryland Online Sports Betting Off to a Fast StartMaryland had double the amount of transactions as neighboring Virginia, which has 2 million more residents.

State gaming officials said they discovered no issues that would preclude any of the three applications from receiving a license in Maryland.

All three are newcomers to Maryland’s gaming sector, which already includes six casinos and sports betting.

Earlier this month, a state commission accepted the first ten mobile sports betting applications. The commission guarantees that they qualify for a license for a physical facility under state law. Unfortunately, DGC, Bally’s, and WynnBet have not assured a license. In addition, their respective sports betting presence in the state will be limited to mobile sports betting software licensing for the time being.

FanDuel, DraftKings, BetMGM, Caesars Sportsbook, PointsBet, BetRivers, and Barstool Sportsbook were seven of the original ten licensees to go live last week, just in time for the Thanksgiving holiday.

According to sportsbook pay per head reports, there are 21 candidates for the 60 available mobile wagering licenses.

The panel didn’t reveal the remaining seven candidates’ names until they appear before the lottery commission.

If the panel votes to qualify the additional applicants, the panel will forward the applications to the Sports Wagering Application Review Commission.

The panel approved every candidate who was qualified by lottery and gaming officials. The additional permits might be approved for all three to be operational by Christmas.

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