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Maryland House passes sports betting bill


Maryland House passes sports betting bill

The legislative chamber of Maryland House has approved the sports betting bill, becoming the second state achieve it in 2018. West Virginia earlier enacted a law last week after passing it from Stat's House of Delegates and Senate.

However, legalizing sports wagering in the state depends on the New Jersey case which awaits a hearing in the US Supreme Court. Several states are looking forward to legalizing single-game betting outside of Nevada.

Maryland needs to have the approval of the bill from Senate, the governor and ultimately from voters before the legalization of sports wagering.

The H104 bill passed the House by a margin of 124-14. It boosts the chances of approval in the upper chamber and pushes its odds of approval by the electorate.

The state also requires a referendum to allow gaming expansions. The bill has garnered support since its initial introduction in early February. The House Ways and Means Committee reported it to the House after making a few amendments to the initial bill.

 

The bill would now legalize sports betting through state's racetracks and casinos.

'According to the estimates of Global Market Advisors, the sports betting industry in Maryland could generate $13.7 million and $182.1 in revenues if sports betting is legalized in the state,' the law stated.

However, the law does not mention any 'integrity fee' asked by the NBA and MLB from the legislatures across the country.

Maryland wasn't weighing on sports betting earlier. But, it was the first state to pass a law that legalized paid-entry fantasy sports in 2012.

Although the lawmakers have said that they are in no haste of passing a sports betting law, its neighbor's states like Pennsylvania, West Virginia, and New Jersey are anxiously waiting for the Supreme Court verdict.

Now the bill heads to the Senate for approval.