Operators Scrambling for Sports Betting Licenses in Maryland

During the elections last November, Maryland voters easily passed a referendum that authorizes Congress to craft sports betting legislation. While all of that sounds promising, the current legislation (HB 940) only authorizes the issuing of 13 retail licenses and 10 mobile sports betting licenses. Eight of the retail licenses have already been designated for the state's six casinos and two racetracks that are already in business.

While the other five retail licenses are currently up for bid, the battle has already begun for the mobile licenses. As is the case in other states, major operators like BetMGM, DraftKings, and FanDuel are sure to make a big play to gobble up as many of the mobile licenses as possible. That would put the smaller sports venues on the sidelines yet again.

Why are mobile licenses so highly regarded? In states like Indiana, New Jersey, and Pennsylvania, approximately 80% to 85% of all sports betting handle is coming from online gamblers. Those numbers are just a bit too big for the blue blood operators to ignore.