Herb McMillan For Anne Arundel County Executive
--> THE VILLAGE AT PROVIDENCE POINT <-----
--> Annapolis Restaurant Week <-----
--> THE VILLAGE AT PROVIDENCE POINT APRIL APRIL APRIL<-----
--> THE VILLAGE AT PROVIDENCE POINT MAY MAY MAY<-----
--> <-----
--> Wes Adams For Anne Arundel Conty Circuit Court Judge <-----
“Herrmann
“Herrmann
Insert future code here--> 1-1 to 1-31 Anne Arundel County Stop Smoking <-----
STANDARD HERMAN AD--> Anne Arundel County Stop Smoking <-----
Herrmann 40--> “Herrmann <-----
MD Higher Education Commission Near Completer
Insert future code here
1-14-22 to 3-8-22 <------
-- October 21 - 1-14-22 <---------
Orioles Bud april 2020 to Sept 2020
“Nationals October 2019

Future Outlook to Legal Gambling Age in Maryland

| April 05, 2022, 06:00 PM

Gambling appears to have a bright future in the state of Maryland. With gambling more popular than ever in the U.S, and gambling activity slowly but surely becoming legal across the country, Maryland will capitalize on this opportunity.

Depending on the state and on the activity, gamblers must be of a certain age in order to legally gamble. You can see the Maryland gambling age by following legalgamblingage.com where an overview per state is presented. In addition, you can see the gambling age for all states in America, the laws for all gambling-related activities, as well as a whole host of other information related to gambling in the U.S.

We are going to have a look at the future of gambling in Maryland, what it will mean for those who are old enough to participate in one of the country’s most beloved sources of entertainment, and what it means for the state.

Online Sports Betting in Maryland

Receiving the green light in early 2021, the state of Maryland passed the Bill to allow online sports betting in the state. The prospect of having online sports gambling sent a feeling of excitement rushing through the industry.

However, the review committee for the state held back the launch, announcing that online sports will fully roll out by the second quarter of 2022. Different casinos, sportsbooks, punters, and even the governor of the state are hoping the launch will come as early as possible. This means that soon, sports punters will have the convenience of betting on their favorite sports at their fingertips, wherever they are in the state. Online sports betting will not only bring the benefit of another source of entertainment, but it will inject a much-welcomed source of cash for the state. Online sportsbooks and major vendors will be subject to a 15% tax, and smaller retail vendors will have to pay 13% of their gross revenues.

On top of this, any gambling operation will be subject to startup costs for licensing, as well as an ongoing annual cost. Major retail vendors will have to pay an initial $250,000 for licensing, and a $50,000 annual charge. Minor retail sportsbooks will have an initial $50,000 licensing fee, followed by a $10,000 annual charge. Online sportsbooks will have the largest costs, with an initial licensing fee of $500,000, as well as a yearly $100,000 charge.

This money will now go to the state fund to improve local education, help fund small businesses, improve policing, and many other benefits to the state.

Liquified Creative Annapolis

The Positives That Come Out of These Rules

Having an open sports betting market has plenty of pros that come with it such as another source of entertainment, and financial benefits for the state. While there are obvious financial incentives, those involved in providing citizens with sports betting also take into account corporate social responsibility.

This includes, but is not limited to ensuring people are well informed of how to gamble responsibly. On top of this, tools to help players control the amount they deposit, setting loss limits, and being able to use self-exclusion tools to take a time out for a ‘cooling-off period are all part of showing players how to gamble responsibly. These measures are something that has worked especially well in the UK and Europe at online casinos and sportsbooks licensed by the UK Gambling Commission (UKGC) and Malta Gaming Commission (MGA).

Adding to this, corporate social responsibility goes beyond gambling. Inevitably, the betting industry is going to be a high revenue-based business because of its popularity. And many of the operators involved do not keep all the profits for the company. Charity donations, events, sponsorships, foundations, as well as funding, or part-funding, of local projects, are all areas we regularly see betting companies involved in.

Exactly the same approach can work in Maryland. And let’s not forget the examples set by the New Jersey market where state and local tax funds contribute to fiscal funds that improve education, law enforcement, infrastructure, and more.

A Tentative Approach

Like most states in the U.S, Maryland will approach gambling with caution. The opening up of online sportsbooks will see that all operators are vetted sufficiently. Maryland will look to protect its residents and protect the future of its younger players. That being said, online sportsbooks will bring a great number of benefits to the state, just like it has done in neighboring states like New Jersey. Young players can be sure that they only have a short while to wait until they have sports betting available at their fingertips.

Category: Local News, NEWS

About the Author - Stephanie Maris

Stefanie is a local blogger and social media content marketer from Maryland and most recently a wife and a mother. She has an unhealthy obsession with puns, sarcasm and caffeinated beverages.

Connect with the Author

rss feed