Maryland’s Record-Breaking Sports Betting Surge
This remarkable growth is driven by both strong participation in the state’s 11 mobile and 12 retail betting platforms and a thriving sports season. With all major U.S. professional leagues in action and two popular local NFL teams — Baltimore Ravens and Washington Commanders — gaining momentum, Maryland’s sports fans are more engaged than ever.
“October is a uniquely busy month on the sports calendar,”
noted Maryland Lottery and Gaming Director John Martin. The enthusiasm for sports betting has not only boosted revenue but has also underscored the potential for additional gaming expansions.
The revenue from Maryland sports betting supports the Blueprint for Maryland’s Future Fund, which invests in public education. This alignment with education funding has added public value to sports betting, with nearly $28.3 million contributed from July to October 2024 alone. Since its inception in December 2021, the program has directed over $116 million to the Blueprint fund, marking a strong example of sports betting revenue used for social impact.
The Challenge of Legalizing Online Casinos
However, while sports betting has quickly gained popularity and acceptance, the progress toward legalizing MD online casino gaming has been more complex. Online sports betting became legal in the state in November 2022, following a long process that began with sports betting legalization in May 2021. Many advocates had hoped that online casino gaming would be next in line, believing that it would complement the established sports betting framework. Online casinos, currently legal in only six states, face challenges from critics who argue they might detract from brick-and-mortar casinos’ revenue and employment. Nonetheless, supporters point to benefits such as enhanced tax revenue and the accessibility and convenience of online platforms.
Despite several attempts, online casino gaming legislation has struggled to gain traction in Maryland. In April 2024, a bill aimed at legalizing online casinos fell short in the state Senate, facing opposition from two of Maryland’s six brick-and-mortar casinos. These opponents voiced concerns about potential revenue shifts and job losses, highlighting a key barrier in Maryland’s legislative landscape. Advocates remain hopeful, but with voter approval now required for any legislative changes, the earliest opportunity for progress may not come until 2026. This delay could, however, allow lobbyists and lawmakers time to gather broader support and potentially find compromises with casino operators who were previously against the bill.
While Maryland navigates this legislative uncertainty, analysts are keeping an eye on potential trends in online gaming. Jefferies analyst David Katz highlighted an innovative workaround in sweepstakes-based games, which may help advance the broader online casino market in the U.S. Katz suggests that, similar to how Daily Fantasy Sports helped pave the way for online sports betting, sweepstakes models could provide a legal bridge for states hesitant to approve full online casino gaming.
“We were involved in much discussion about sweepstakes in the U.S., potentially a legal work-around for offering online casino-style products,”
Katz observed, noting that this approach has stirred interest among operators and investors.
