The Maryland Lottery and Gaming Control Agency (MLGCA) has granted initial approval to DraftKings for the establishment of a sportsbook at the Timonium Racetrack, located at the Maryland State Fairgrounds. The application was submitted by Crown Maryland Gaming, a company owned by DraftKings. This license would enable the operation of a retail sportsbook at the Maryland State Fairgrounds, as part of a 10-year agreement between DraftKings and the Maryland State Fair. Both parties will share the renovation costs of an area under the grandstands of the Timonium Racetrack to accommodate the new sportsbook facility. The Maryland State Fair and Agricultural Society, the potential license holder, must be deemed qualified by the MLGCA before the Sports Wagering Application Review Commission (SWARC) can award the facility’s sports betting license.
DraftKings’ Approval for Timonium Racetrack Sportsbook:
The Maryland Lottery and Gaming Control Agency (MLGCA) has granted initial approval for DraftKings to establish a sportsbook at the Timonium Racetrack, situated within the Maryland State Fairgrounds. The application was filed by Crown Maryland Gaming, a subsidiary of DraftKings. The proposed license would allow DraftKings to operate a retail sportsbook at the Maryland State Fairgrounds, in accordance with a 10-year agreement made between DraftKings and the Maryland State Fair in 2020. The collaboration entails the renovation of an area beneath the grandstands of the Timonium Racetrack to accommodate the new sportsbook facility. However, before the Sports Wagering Application Review Commission (SWARC) can award the sports betting license for the facility, the Maryland State Fair and Agricultural Society, the potential license holder, must be deemed qualified by the MLGCA.
Maryland’s Progress in Online Sports Betting:
The Maryland Sports Wagering and Application Review Commission (SWARC) has approved regulations for the launch of mobile sports betting in the state. The commissioners have given their endorsement to the amended online licensing procedures, which will now be reviewed by the Maryland Legislature’s Joint Committee on Administrative, Executive, and Legislative Review for emergency approval. Governor Hogan signed a bill to legalize online and retail sports betting in Maryland last year following voter approval through a November 2020 referendum. While retail betting has been available for seven months, online sports betting has yet to be launched. Governor Hogan aims to have mobile sports betting available in time for the NFL season in September. Maryland plans to issue 60 mobile and 30 retail licenses.
Anticipated Launch of Mobile Sports Betting:
Maryland is making significant strides towards the launch of mobile sports betting, with regulatory approvals and legislative review underway. The goal is to provide mobile sports betting options to residents and visitors in time for the NFL season. The passage of the bill legalizing online and retail sports betting, combined with the successful referendum, demonstrates Maryland’s commitment to meeting the demand for sports wagering and maximizing the associated economic benefits. The state will offer a total of 60 mobile licenses and 30 retail licenses, creating opportunities for various industry stakeholders to enter the market.
DraftKings’ initial approval for a sportsbook at the Timonium Racetrack in Maryland signals progress in the state’s efforts to offer diverse sports betting options. Pending final qualifications, the Maryland State Fair and Agricultural Society is expected to be granted the license for the facility. Simultaneously, Maryland is making strides in establishing regulations for mobile sports betting, with approval from the Maryland Sports Wagering and Application Review Commission (SWARC). The state aims to launch mobile sports betting in time for the NFL season, providing residents and visitors with convenient and engaging wagering experiences. By legalizing online and retail sports betting and facilitating the launch of mobile platforms, Maryland positions itself to benefit from increased revenue and a thriving sports betting industry.