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After a six-month period of successful operations, online sports betting platforms in Maryland are pushing for a reduced regulatory presence. However, the state’s regulators aren’t willing to relinquish their power to review potentially deceptive promotions.
Maryland’s law mandates that online sports betting platforms submit descriptions of their promotional offers to the regulators at least two days prior to launching. Documents sourced by The Baltimore Sun show that the online sportsbooks requested a waiver of this requirement, suggesting a post-launch notification within five days instead.
The platforms posited that certain promotions are event-dependent, necessitating more immediacy to align with local sports events. For instance, they may want to launch a promotion when the Maryland Terrapins advance in the NCAA Basketball tournament or when the Baltimore Orioles reach the postseason.
In defense of their proposal, the sportsbooks said that pre-submission of promotions for review hinders their ability to design promotions around unpredictable events that would be appealing to sports bettors.
John Martin, the director of Maryland Lottery and Gaming, however, underscored the importance of consumer protection. He mentioned that while they support the flourishing sports wagering industry and its potential contributions to education funding, they deem it crucial to review promotion details pre-launch, in order to safeguard consumer interests.
The regulatory body also turned down DraftKings’ request to eliminate the cap on the total dollar amount of free bets offered in Maryland within a year. Currently, this limit is calculated based on the taxable revenue generated by each company in the previous year.
Maryland’s online sports betting scene, which started in November of last year, comprises nine online sportsbooks, with Fanatics being the latest entrant. Despite a slight dip in April, Maryland’s mobile sportsbooks, which account for over 95% of the state’s handle, have been witnessing encouraging revenue figures.