With online sports betting now officially live in Maryland, locals can bet on all their favorite sports teams from anywhere in the Old Line State. Not every resident will be versed on the rules and regulations surrounding Maryland online sports betting.
Here we will break down notable regulations set by the Maryland Lottery that affects all sports betting fans.
Maryland Sports Betting Rules Examined
For starters, one standard rule to note with Maryland sports betting laws is the legal betting age. Locals must prove they are of the required gambling age of 21 years old before they can place action at online sportsbooks. Sportsbooks will ask for ID and other identification verification requirements.
This sports betting age was set by HB 940, the law that regulated betting in the Old Line State. This law also establishes the Maryland Lottery as the overseer of sports betting.
Regulations allow for online sportsbooks to be accessed from anywhere within Maryland. Should users leave the Maryland region, they will not have access to their betting accounts. This includes the DMV area as regulations differ amongst jurisdictions. Residents can register for sports betting from anywhere in the state with no in-person registration required.
College sports betting is permitted under official regulations. There are no restrictions on collegiate betting. Fans can wager on home teams and events taking place in Maryland. Unrestricted college betting is not common in other states.
Where Does Revenue Go
The majority of the revenue from sports betting will go to the Maryland Department of Education’s Blueprint for Maryland’s Future Fund per regulations. This will be included in the fiscal budget beginning in 2023. Funds will also be used to study the effects of sports betting post-launch.
“The Governor must include in the State budget for fiscal 2023 an appropriation of $1.5 million each for Bowie State University and Morgan State University to establish centers at each university for the study of data analytics and sports gaming.”Reads statements from the Maryland state legislature.
The Maryland Lottery and Gaming Control Agency have already been overseeing the revenue process as retail sports betting has been live for months in Maryland. They will continue to distribute funds accordingly. Additional revenue will come from sportsbook licensing fees that are to be distributed alongside tax revenue.