Maryland has entered the world of legal sports betting with a splash….scratch that, a tidal wave. With a whopping 100 licenses being offered, Maryland has double the number of the next closest state.
A total of 17 licenses will be going to named entities in the state with another 30 for Class B retail sportsbook locations. That leaves a mere 60 mobile licenses for the state.
We’re digging into what all this means for residents itching to place bets in the state.
Sixty Sportsbooks in Maryland?
Well, yes! Technically, the state has that many licenses available to be used. But it is an ambitious number, to say the least. Take into account a state like New Jersey, where they have 27 licenses but have only filled 17 some three years after the passage of their sports betting legislation.
Maryland has decided to widen the net to allow different entities to get in on the action. It could take years to reach 60 sportsbooks in the state, that is, if there is a market there for it after all. Some insiders feel as though getting to 60 is a long shot.
But.. Really 60 Sportsbooks in Maryland?
Brendan Bussman, the director of government affairs at Global Market Advisors – the world’s leading gaming, entertainment, sports, hospitality research and consulting firm – says Maryland won’t reach 60.
His reasoning is simple. There are not enough sportsbooks to fill the space:
“If everyone who had interest played in the space, and you maybe leave 10 percent over that for new market entrants, you might get to 30.”
Grossman feels as though even hitting 30 is a stretch.
What About Other States?
For reference, the most live sites in any state is 17. Indiana has the capacity for 45 and is only at 16 at present. Maryland is a large state, but not the largest on the current list of states where sports betting is legal.
Another issue to keep in mind is market saturation. If there are 60 or even 30 sportsbooks to choose from, the supply may not meet the demand. For some operators, you’re going to have diminishing returns because you don’t have the volume you’d want to see because of the heavyweights in the space.
None of this is to say it won’t happen or even that it can’t happen, despite Bussman’s sour take. It just might take a long while to come into fruition and it will likely be a few years before the market in Maryland determines the actual number of those 60 that wind up being used. In the meantime, the market is wide open.
It’s also important to remember that it has only been three years since sports betting was made legal in the US. In three more years, we could see two times the amount of sportsbooks pop up. Time will tell.
Currently Licensed Sportsbooks in the U.S – Many Will Come to Maryland
The following chart breaks down the legal sportsbooks and what states they operate in:
|Sportsbook||Where are they available?|
|DraftKings||NJ, PA, IN, CO, WV, IL, IA, TN, NH, MI, VA, WY, AZ|
|BetMGM||AZ, CO, D.C, IA, ID, MI, MS, NJ, PA, TN, VA, WV, WA|
|FanDuel||AZ, CO, IL, IN, IA, MI, NJ, PA, TN, VA, WV|
|Caesars Sportsbook||NJ, CO, WV, IA, NV, IL,TN, MI, IN, VA, PA|
|BetRivers||AZ, CO, IA, IL, IN, MI, PA, VA, WV|
|PointsBet||CO, IA, IN, IL, MI, NJ, WV|
|Barstool Sportsbook||AZ, CO, IL, IN, IA, MI, NJ, PA, TN, VA|
|TwinSpires||CO, IN, MI, PA, TN, AZ, NJ|
|WynnBet||AZ, CO, IN, MI, NJ, TN, VA|
|FOXBet||NJ, CO, PA, MI|
|Betway||CO, IN, NJ, PA, IA|
|Unibet||NJ, PA, IN, VA|
|Golden Nugget Sportsbook||NJ, NV|
What All This Means for Maryland Sports Betting
This is all useful information, but what does it mean for you, the user? Well, it’s simple. More choices.
With 60 possible Maryland sportsbooks, you can pick and choose which you want to download and use. Having multiple options is a great technique for making the best use of all the juicy sign-up bonuses each is sure to offer. Mix and match to get the biggest bang for your buck.
Some of the best sign-up bonuses we have seen in other states include:
Maryland Sportsbook Choices = Maryland Sportsbook Bonuses Galore
More choice also leads to more innovation. As new sportsbooks join the fray, you can expect to see each incorporating and building on features seen in those that predate them.
Some great features you should be on the lookout for with these sportsbooks are:
- Live Betting – a live stream of the game where you can place bets as the action unfolds
- Cashout – cash out bets early if you desire
- Early Payouts – paid out if the team you bet on has a sustained lead
- Parlay Builder – construct your own same game parlay bets
- Daily Odds Booster – higher payout on certain games that get a boost
- Edit My Bet – add, swap, or remove selections on unsettled bets
Some other features that appear on some sportsbooks and might be of interest to those who want to limit the amount they bet are:
- Player limits – limit the amount you deposit on a daily, monthly, or weekly basis
- Self-Exclusion – allows you to ban yourself from the app for a period of time
- Cool Off – prevents you from depositing or placing any bets for a set period of
It is certainly an exciting time to be a Maryland resident! Keep it locked here for more updates as betting goes live in the state.