- BetMGM has been announced as the first sports betting partner of the NFL Baltimore Ravens.
- Maryland Governor Larry Hogan signed a sports betting bill into law earlier today.
- Maryland will have a limited number of retail sportsbooks but will issue 60 online licenses. This could make the state one of the most vibrant sports betting jurisdictions in the US.
Maryland has jumped on the sports betting bandwagon in a big way. Governor Larry Hogan signed a bill into law on Tuesday, May 19 that will authorize sports betting in the state beginning on June 1. Sports betting will be legal in Maryland at the state’s six casinos along with authorized horse racing tracks and professional sports venues. That means you can expect retail betting outlets at M&T Bank Stadium, Camden Yards and Fed-Ex Field along with Pimlico and Laurel Park racetracks. The Maryland State Fairgrounds in Timonium is also eligible to operate a retail betting location. There are also 30 ‘Class B licenses’ available for small businesses to open retail sportsbooks. No clue what will come of that. The bigger news is the online component–Maryland will issue as many as 60 online/mobile licenses. On the downside is a 15% tax rate though sadly that isn’t anywhere near the most usurious in the US. I’ll be digging through the legislation over the next few days as well as monitoring the process of establishing the regulatory framework.
Although there haven’t been any official announcements of sportsbooks set to launch in Maryland you can be pretty sure that BetMGM will be among them. That’s because before the ink on Hogan’s signature had time enough to dry they had issued a press release announcing that they’re the first ‘Official Gaming Partner’ of the NFL Baltimore Ravens. By now you know the drill on relationships of this sort. BetMGM will have a hospitality suite at M&T Bank Stadium, the BetMGM app will feature Ravens specific promotions and there will be plenty of signage at M&T Bank Stadium and promotion on the Ravens’ social mhttps://newsroom.mgmresorts.com/baltimore-ravens-name-betmgm-as-first-official-gaming-partner.htmedia channels. What hasn’t been announced as of yet is a retail sportsbook for the Ravens’ stadium. Stay tuned for that.
Ravens Chief Sales Officer Kevin Rochlitz had these comments about the partnership with BetMGM:
“When we began the process of carefully identifying sports betting and digital gaming partners, one of our top priorities was finding unique ways for Ravens fans to further engage with the team. We are excited to partner with BetMGM and look forward to the specialized entertainment experience the company will provide for our fans.”
BetMGM Chief Revenue Officer Matt Prevost also had comments about the announcement:
“The Ravens are an incredible organization with a rich history, and we’re proud to have BetMGM as the team’s first official partner in the gaming space. We look forward to offering Ravens fans new ways to engage with their favorite football team on our market-leading platforms.”
You can also be sure that there will be a retail sportsbook at MGM National Harbor. That’s no doubt why the press release also featured Jorge Perez, President & Chief Operating Officer, MGM National Harbor, who had these comments:
“BetMGM’s partnership with the Baltimore Ravens comes at a pivotal time for MGM National Harbor, as we usher in the era of legalized sports betting in Maryland. We are confident that we will provide Ravens fans throughout the DMV with new and innovative ways to experience football season before, during and after games at our entertainment resort.”
MGM National Harbor already has a racebook but at mere 1,500 square feet you can expect the eventual sportsbook to be significantly larger:
A sports betting referendum last November was affirmed overwhelmingly with 2/3 of voters expressing support.