According to The Action Network the act was adopted with an "urgent" clause, which allowed it to enter into force immediately. Hogan's signature makes Maryland the fifth state to legalize sports betting this year, following in the footsteps of South Dakota, Wyoming, New York, and Arizona. legalized sports betting. But as the pandemic shortened the 2020 state legislative session, legislators only passed a bill that would allow voters to take their last word. By voting yes, the state legalized betting, but did not create any appearance of a regulatory framework.
Bills to create such a system began circulating in February, before Hogan ended the trial yesterday with his signature. The market is expected to kick off this fall.
The act will allow as many as 60 online bookmakers, as well as points of sale in six state casinos and professional sports stadiums. On Wednesday, the Baltimore Ravens announced a partnership for sports betting with BetMGM.
Sports bars, racetracks, off-track betting and state fairgrounds may also apply for a license. 30 retail licenses are available for purchase.
Bookmakers will pay
% tax on their revenues. These tax dollars will be used to fund public education. It is estimated that when the market matures, the industry should generate $ 17 million a year in taxes.