More Sports Betting Licensing Provided for Two Maryland Properties
Sports betting continues to grow in Maryland as officials have just approved two more venues for licensing.
As sports betting prepares to launch in Maryland, two more facilities have been approved for licensing. Earlier this week, it was announced that the Riverboat on the Potomac and Long Shot’s were both approved by the Maryland Sports Wagering Application Review Commission. Both of these properties are restaurants that provide lottery games and off-track wagering. Additional reviews are needed before wagers can take place at each site. Both hope to get started by next year.
Both of the facilities are ready to get in on the sports betting action. For the Riverboat, investor Tony Jones stated that the team of the casino is hoping to launch by February. A soft opening might be possible by the Super Bowl, but if not, the property expects to be ready before March Madness, another popular betting event.
The Riverboat is a unique spot for sports betting. To reach the facility, players must drive to Colonial Beach, going across the Potomac River. Most of the property though is located on the water, which adds to the gaming fun. Lottery games are offered here from Maryland and Virginia with off-track wagering on horse racing as well.
The property has teamed up with PointsBet to offer sports betting services. A deal was also signed with the University of Maryland with fans of the university able to see advertising of PointsBet within the football and basketball arenas of the facility. Broadcasts will also feature the logo.
For Long Shot, the property boasts wagering options along with beer and barbeque. The facility is known for its horse racing options, with 88 televisions broadcasting live events. The owner of this property plans to begin offering sports betting by the beginning of next year.
Services will be temporary until a long-term space can be constructed. Owner Alyse Cohen wants to renovate the property to offer a nicer space with an upgraded experience. Long Shot’s is apparently the only sports betting facility in Maryland that is owned and operated by a woman.
Sports Betting Launching This Week
While the two new license holders won’t start offering sports betting until next year, others are getting ready to launch this week. The MGM National Harbor property started yesterday while Live! Casino & Hotel and the Horseshoe Casino Baltimore launch today.
Governor Larry Hogan is set to be on hand during the launches to celebrate the milestone. Players are expected to visit the casinos in large numbers this weekend to bet on their favorite sports teams. So far, 17 locations have been approved to offer services. The state passed sports betting legislation earlier this year, setting up the state to offer a large sports betting market.
In-person and online betting can take place in Maryland, but officials are starting with the retail options first. It is expected that in-person wagering will only play a small role in the success of the industry as player will lean more towards online betting. In other states, the retail services only count for 15% or less as the majority of players use a mobile device for betting.
Once fully set up and operational, it is expected that the sports betting industry in Maryland will generate around $100 million in yearly earnings. The state has set a 15% tax on operations, with the majority of funds going towards public education.
It will be interesting to see how the industry gets started and just how quickly players start posting wagers. We will see plenty of interest in the coming days, but it wont be until the online services start that we really see how success the industry will be.