After over a year of waiting, the application process for sports betting operators and suppliers in Maryland is finally open. Interested companies have from now through Oct. 21 to submit applications.
Maryland sports betting could go online in December
After a year of meetings, the Sports Wagering Advisory Committee (SWARC) announced the beginning of the application phase. Applicants now have a 45-day window to submit applications. SWARC then has up to 45 days to grant licenses. That puts sports betting launch around the start of December, and potentially even earlier. Given the pace the state has gone so far though, December seems like the safest bet.
“This is fantastic news,” said Maryland Lottery and Gaming Director John Martin in a release. “We know sports fans are eager to have mobile wagering, and we also know that it will substantially increase the contributions to education funding, so we’re eager too. We’ve been doing everything we can to have it launch before the end of the year, and now we have a good chance to make that happen.”
In addition to SWARC vetting applications, the Maryland Lottery and Gaming Control Commission (MLGCC) will also assess applicants before granting a license.
$500K licensing fee could limit sports betting applicants
While the state has up to 60 online betting license to issue, the substantial licensing fees associated with applying might keep some smaller, local operators out. There is an up front fee of $500,000 for a license that is due alongside the application.
“Maryland Lottery and Gaming has been hard at work on background investigations,” Martin said. “A number of businesses that are planning to apply for mobile licenses have already submitted information to get their investigations started, and our Licensing staff will continue guiding them through the qualification procedures. We’re focused on expediting our part of the process so mobile betting can start as soon as possible.”
