- Sports Betting
- NJ Sports Betting
- PA Sports Betting
- Colorado Sports Betting
- US Betting
- LSR Podcast
A more inclusive bill to legalize sports betting in Maryland is on the verge of passing in the Senate.
Sen. Craig Zucker made changes to S 4 in the Senate Budget and Taxation Committee late Tuesday. The substitute adds three racetracks and a stadium for the Washington Redskins to the six casinos the bill permits to offer Maryland sports betting.
The new language was approved and the sports betting bill was sent unanimously to the Senate floor, where it will be up for debate Thursday morning. Zucker is confident the bill will pass by Tuesday of next week.
“We had work groups and it was the sentiment that we should be more inclusive,” Zucker told Legal Sports Report. “We care deeply about the racetracks and it’s important to try to drive people to the racetracks.
“This is an opportunity to do that that I think would create more marketing opportunities for them and more betting opportunities for the people of Maryland.”
Zucker’s original bill gave MD sports betting exclusively to casinos. It featured some of the highest fees and tax rates in the country, with a $2.5 million initial licensing fee and a 20% tax rate.
The tax rate remains the same while the licensing fee is now tiered:
FedEx Field, home of the Washington Redskins in Landover, MD, or an NFL stadium built in the area can have a license for $2.5 million if certain conditions outlined below are met.
Pimlico Race Course and Laurel Park, owned by Stronach Group’s Maryland Jockey Club, would share a license for $2.5 million. Maryland State Fairgrounds in Timonium, MD, would pay $1.5 million for a license.
License renewals change from one year at $250,000 to every five years for 25% of the original license cost. Licensees may contract with one online sports wagering operator.
“We talked to the casinos, we talked to the racetracks, and we think this is a fair way to go,” Zucker said. “They can succeed with these rates.”
Four off-track betting facilities in the state may offer Maryland sports betting through partnerships with a casino or racetrack licensee.
It’s no surprise to see Washington involved after owner Daniel Snyder lobbied heavily for the team’s facility to have sports betting. Snyder also owns FedEx Field.
However, for the Redskins stadium to get sports betting, the owner would need to meet these requirements:
“We want to make sure the Redskins continue to invest in Prince George’s County,” Zucker said. “This is a good way to make sure that partnership continues and also requires a community benefits agreement.”
Even if S 4 passes the Senate in the coming days, it needs to pass the House. Then the governor must sign it and goes in front of voters in November.
Legalizing sports betting in Maryland requires going to the ballot for approval of a constitutional amendment.
Legislative analysis projects the bill would provide $21 million in revenue annually for the state, which would go into an education fund.
“Polling is mixed but I’ve heard from constituents who really want it,” Zucker said of regulated sports betting. “It’s not for me to decide, it’s for them. If they want it, they can vote for it. If not, they can reject it. But it’s going to be up to the voters of Maryland.”