Lawmakers are calling for the sports betting application window to be reopened.

 

Maryland has a large number of unissued sports betting licenses, and state representatives say they cannot be allowed to grant them. 핀벳88(피나클) 안전도메인

We currently have 12 physical sports betting offices. The state also has more than a dozen mobile sports betting apps. State regulators say no further action is needed yet due to market volatility and ongoing consolidation. Still, some hope that the Sports Wagering Application Review Committee (also known as SWARC) will continue to accept applications from companies that still want to enter the industry.

"I think there's a lot of dead spots," Dell said. Jason Buckel (R-Allegany), member of the House Ways and Means Committee; "There are very few on the East Coast. In the case of Montgomery County, population 1.1 million, there is one in all of Montgomery County. There are dead spots virtually everywhere in the state," Buckel said. He told administration officials that the remaining physical sports betting licenses should be awarded to eligible businesses. BTI sports 안전주소

  The agency's director, John Martin, told Mr Buckel and the committee at a press conference in Cambridge on Tuesday that the application period ended in October last year. 아시안커넥트 추천 도메인

  "Currently, there are no legal regulations governing additional registration periods," Martin said. His 24 licenses currently in operation and his 10 licenses that Mr. Martin says are "in development" are far fewer than the total number available under the 2021 law. The two-year-old law authorized more than 100 licenses in total. These include 17 so-called automatic licensees, which are assigned to specific locations and companies only need to apply for. These locations include the state's six casinos, the Pimlico and Laurel racetracks, the Maryland State Fairgrounds in Timonium, three professional sports stadiums, and several existing off-track gambling establishments and bingo halls. Ta. In addition, the General Assembly created 30 physical location licenses and an additional 60 mobile his licenses. "The quick math is 107 sports bets," Martin said. "That's a lot. The reality is we're far from that stage right now." The aim was to establish a competitive application and award process. The Sports Wagering Application Review Board later resolved to waive this competitive process if the number of licenses exceeds the number of eligible applicants. Buckel found that approximately one-third of the licenses available in brick-and-mortar stores are past their shelf life. "This seems to go against the legislative intent of adding licenses," Buckel said. "Basically, if we stop accepting any more applications, that application is no longer valid." Buckel said bars and restaurants looking to add sports betting as an additional revenue stream He said he believes there is a market for this. Mr. Buckel said he plans to introduce legislation in the 2024 legislative session that would require regulators to accept applications for remaining licenses.

"Nobody kicked down our door and asked us to come in," said Randy Marriner, chairman of the Maryland Lottery and Gaming Control Board and member of the sports betting application review committee. he said. Regulators also say the market is changing. "I think SWARC is trying to figure out what the industry is going to be, are there going to be mergers and acquisitions in the wireless space, are some of the retail businesses still going to exist," said James Butler, the agency's deputy director. said. Maryland Lottery and Gaming Authority. WinBet recently announced that it would cease sports betting operations in eight markets. Maryland told regulators it would return the licenses it had been granted and waive license fees. The company has never offered sports betting in Maryland. "We may see more consolidation in the sports betting industry," Martin said. "That's just the reality. The numbers here are simply not sustainable." Additionally, Boonsboro's retail licensees have yet to take the gamble because no existing operator has been found. Operators (companies such as FanDuel, DraftKings, BetFred, and William Hill) work with licensees to manage licensed sports betting and set odds. The state may just want to see "how this market stabilizes, and whether we see mergers and acquisitions, especially in the wireless space," Butler said. Mr. Butler asked Mr. Buckel and the committee to wait six months to a year for the market to "settle" and see if there are any further mergers or acquisitions "particularly in the wireless space." State agencies reported that last year's sports betting revenue exceeded $25 million. They predict it could grow to $30 million this year. To the surprise of regulators, 95% of bets are placed via mobile apps. "It was a revelation for us," Martin said. "So it's going to be difficult for both retail and mobile because market share is really concentrated in a few key players in those segments." And I think that's going to become clearer over time. is thinking. " This train will continue to run," he said.