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Push For Legalised Sports Betting in Maryland Casinos

Push For Legalised Sports Betting in Maryland Casinos

There is good news for gamblers in Maryland as there is a new effort to bring sports betting to the state’s six casinos.

Joe Weinberg, the head of the company that operates the Maryland Live Casino, said this week that he is all for efforts to legalise the practise across the state. He has urged members of the Joint Committee on Gaming Oversight to take up the issue next year so that a constitutional amendment can be put on next year’s general election ballot.

While it is not obvious that the state’s lawmakers are as keen, there is still a good chance of making progress.

Del. Frank Turner, the gaming committee’s House co-chair, has said that he thinks legislation to allow sports betting will find a sponsor but he isn’t sure when it will pass.

Weinberg has cautioned that neighbouring states are preparing to change their laws and this could lead to a loss in casino tax dollars for Maryland. He has insisted that it is vital that Maryland’s casinos can offer a “full suite of gaming services”.

The owners of the states three largest casinos, the Maryland Live, the Horseshoe Casino Baltimore and the MGM National Harbor have all backed the idea of legalising sports betting.

“We support legal, regulated sports betting, which today is permitted in different forms in Nevada, Delaware, Oregon and Montana,” Caesars Entertainment, owner of Horseshoe Casino Baltimore, said. The MGM Resorts owner issued a similar statement.

At present it is thought that a huge amount of illegal sports betting takes place across the United States and Weinberg has estimated that sports betting could generate $100 million extra revenue.

 

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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