Maryland governor signs sports betting bill

Sports Betting

Maryland is the latest state to approve a law sports betting after Gov. Larry Hogan signed legislation Tuesday.

Maryland joins other states that have legalized sports wagering since the U.S. Supreme Court cleared the way in 2018. The law could produce more than $18 million in revenue for Maryland from in-person and mobile sports betting in fiscal year 2022, according to a fiscal summary of the bill.

The bill allows for as many as 60 mobile and online sportsbooks, “by far the largest number among states that impose a cap on licensees,” according to lawyer Zachery Roth, of law firm White and Williams LLP. 

“Maryland’s sports betting bill is among the most inclusive to date and is clearly intended to foster competition by reducing barriers to entry for smaller firms and promoting diversity,” Roth wrote in an April article on the bill.