Maryland lawmakers have passed legislation to regulate handicappers of legal sports betting.
On Tuesday, Gov. Wes Moore signed Senate Bill 621 into law — a piece of legislation that requires the Maryland Lottery and Gaming Control Commission to identify and assess sports betting content produced by experts, influencers, and content partners via independent evaluators.
SB 621 — sponsored by Senators Craig J. Zucker and Shelly Hettleman — also authorizes the MLGCC and Maryland’s Sports Wagering Application Review Commission to consider amending a Class B-2 sports wagering facility license application. Under certain circumstances, the request would permit alterations to the proposed location of the facility.
SB 621 is one of several bills that have passed through Maryland’s legislative chambers. In April, the state’s Senate and House of Representatives passed Senate Bill 620, which prevents colleges and universities from being able to profit from partnerships with operators that are aimed at students.
Maryland’s chambers have also passed House Bill 802 — a similar piece of legislation bill that prohibits institutions from being compensated for sports betting deals with marketing entities that are also aimed at students. Both bills were approved by Gov. Moore.
All three pieces of legislation — SB 621, HB 802, and SB 620 — will go into effect on July 1.
Emerging market
Maryland launched online sports betting sites in November 2022 and has developed into one of America’s most promising sports betting markets. The Old Line State has 12 online operators and 10 retail locations, which have all secured partnerships with mobile operators. Operators with licenses in Maryland include DraftKings, FanDuel, BetMGM, and Caesars.
Earlier this month, SuperBook Sports launched operations in Maryland after being awarded an online betting license in April by the MLGCC. The Las Vegas-based sports betting operator also opened SuperBook Bar & Restaurant at Oriole Park at Camden Yards. SuperBook currently has market access to eight states across the U.S. including Arizona, Iowa, New Jersey, and others.
SuperBook is poised to reap the benefits of operations in Maryland after the state generated $44.5 million in gross revenue from wagering in March, a 15% increase compared to February. More than $5.3 million of the revenue will be allowed toward public education. Maryland reported a total betting handle of $385.8 million in March, up 12% compared to the month prior.
