Maryland’s Sports Betting Industry is Growing, Fast

Hollywood Casino Sportsbook Background Betting

Maryland is one of the many states to legalize and regulate sports betting in 2021. It seems that officials in the state are working hard to expand this form of gambling. New reports reveal that Maryland’s sports betting industry is already growing very quickly.

Many sportsbooks are already up and running here. More are set to launch in the coming months.

Here’s what you need to know!

Maryland’s Sports Betting Industry Continues to Expand

Sports betting has been growing more popular throughout the United States since the US Supreme Court decided to remove PASPA in 2018. A huge number of states have legal sportsbooks up and running. Lawmakers in Maryland decided to legalize sports betting in November of 2020 and the first sportsbooks have recently begun to go live here.

Many are now taking note of how quickly Maryland’s sports betting industry is growing. Many new sportsbooks have recently begun to operate. More casinos are just starting to receive permission to launch sportsbooks, too.

The Hollywood Casino in Perryville is the latest gambling venue in the state to launch sports betting. This casino sits just a few miles from the border with Delaware. It launched its first sportsbook after a two-day trial run overseen by officials within the Maryland Lottery.

Many are astounded to see how quickly Maryland’s sports betting industry is growing. This is now the fifth sportsbook to launch in the state. Sports betting revenue is expected to surpass $100 million annually. The sportsbooks here are taxed at 15%.

It’s an exciting time for sports fans in Maryland. 2022 is expected to be a big year for this state’s sports betting industry. Many other states are expected to launch their sportsbooks in the next few months.

More States Prepare to Launch Sportsbooks in 2022

Sports betting has never been more popular than it is right now. States around the country are earning a huge amount of tax revenue every month from their regulated sportsbooks. It now appears that several states are preparing to launch their first sportsbooks next year.

It now seems almost guaranteed that California will choose to legalize sports gambling next year. State officials have been negotiating with tribal groups in the state to launch sportsbooks. Expect to see a vote to legalize sports betting appearing on the ballots next November.

Some of the most anti-gambling states in the country are now showing interest in legalizing sports betting. That includes Texas and Georgia. Both states are against casino gambling, yet are beginning to take notice of the benefits of legal sportsbooks.

2022 is shaping up to be a massive year for the sports betting industry. Many states with sportsbooks already up and running are looking to expand their betting industries. That includes New York, which appears set to launch its first online sportsbooks in the next few months.

The US casino industry is expanding rapidly right now, too. Let’s take a quick look at some of the new casinos opening their doors next year.

New Casinos are Set to Open Their Doors Next Year

Sports betting is not the only form of gambling to gain major popularity over the past few years. Casino gambling exploded in popularity over 2021. Many states set new monthly casino revenue records this year and analysts expect this trend to continue in 2022.

Several exciting new casinos are expected to open their doors next year. That includes several in Las Vegas. Station Casinos has been working hard to expand in Las Vegas lately and hope is that it is able to open some of its properties currently under construction here before the end of next year.

Illinois approved a Capital Plan in 2019 allowing for six new casinos to open in the state, including one in Chicago. None have yet opened their doors. Many are hopeful to see at least one begin operating in 2022.

Several more states are looking to open new casinos next year. That includes Pennsylvania and New York. If all goes according to plan, 2022 will be the best year in history for the land-based casino industry.

Are you excited to see Maryland’s sports betting industry grow? Will sports betting bring in major revenue earnings here? Let us know in the comments section below.