iGaming Steps into the Spotlight in Maryland as Sports Betting Flourishes

As Maryland‘s sports betting sector flourishes, the state’s attention is now shifting towards its potential next betting endeavor – iGaming, which encompasses virtual slot machines and various casino games.

Mobile and Retail Sportsbooks Flourish Amidst iGaming Debate

Mobile sportsbook licenses have surged to 12, including Greenmount Station and Parx Interactive, and there are also 10 retail sportsbooks currently operating within the state. While the prospect of iGaming had been discussed during the recent legislative session, the bill did not progress past committee review, leaving the topic for future debate.

In response to this, State Senator Katherine Klausmeier conveyed her concerns, expressing that she would vote against it and highlighting that it was just too easy to lose money, reported The Daily Record Maryland. 

Various organizations, such as the National Council on Alcoholism and Drug Dependence of Maryland and the Maryland Center of Excellence on Problem Gambling, have opposed iGaming, citing research that suggests increased access to online casino games could contribute to a rise in problem gambling cases.

Maryland also grapples with inadequate support for problem gambling, as rising addiction rates and funding shortfalls underscore the urgent need for improved services before considering legalizing iGaming.

On the other hand, proponents of iGaming argue that it could serve as a fresh revenue source for education and boost state funds through multi-jurisdictional gaming, which allows players from different states to participate in betting activities.

Maryland Lottery Agency Set to Unveil Comprehensive iGaming Impact Report

The Maryland Lottery and Gaming Control Agency is expected to present a comprehensive report to state lawmakers by mid-November. This report will focus on iGaming’s impact on problem gambling, benefits, and experiences in other states where iGaming has been legalized. The previous proposal included provisions for iGaming and multi-jurisdictional poker, with a requirement for 15% of proceeds to be directed toward education.

At the same time, Maryland Lottery and Gaming contributed over $1.5 billion to the state during Fiscal Year 2023, benefiting schools, public health, safety, and other services. This revenue ranks as the fourth-largest source after income, sales, and corporate taxes. The Lottery generated $714 million from $2.7 billion in sales, marking a 3.8% increase from the previous year. 

Six casinos yielded $848.1 million from $2 billion in sales, supporting the Education Trust Fund and minority-owned businesses. Education received $622.7 million, up by 1.8%. Sports wagering and fantasy sports also contributed, with $25.3 million directed toward the Blueprint for Maryland’s Future Fund. The commission predicts an annual $30 million contribution from the fully developed sports wagering program.