Maryland Sports Betting LIVE: Legal Maryland Sportsbooks May 2023

Betting was officially legalized in the state of Maryland in May of 2021. It started with Maryland voters heavily supporting sports wagering in a 2020 general election ballot measure, ultimately laying the groundwork for legalizing online sports betting the next year.

In January 2021, Maryland legislators reconvened to discuss the topic, and by May 18th, the bill was signed into law by Governor Larry Hogan. Then, in early December 2021, retail sportsbooks began accepting bets. Finally, on November 23, 2022, online sportsbooks were approved to also takes bets.

Below is a general timeline for sports betting legislation in Maryland:

• 📅  November 23, 2022: Just five months after the first sports betting operator gets approval for a license, online sports betting officially launches in the state of Maryland.
• 📅  June 23, 2022: As pressure mounts on Gov. Larry Hogan to get online and mobile sports betting in action this upcoming fall or winter, Fanatics becomes the first sports betting operator to get approval for a license.
• 📅  Dec. 9, 2021: Gov. Larry Hogan placed the first official sports wager at the MGM National Harbor.
• 📅  July 15, 2021: The Maryland Lottery and Gaming Control Agency approved rules for legal sports betting in Maryland.
• 📅  May 18, 2021: Gov. Larry Hogan signs sports betting legislation into law. 
• 📅  April 12, 2021: HB 940 passes through the Maryland State Legislature
• 📅  Nov. 3, 2020: Maryland voters support sports wagering heavily in a general election ballot measure.

Maryland sports betting was officially legalized in the state in May of 2021. Initially, only retail sports betting was legalized immediately, but Maryland also granted licenses for online sportsbooks as well. Maryland voters heavily supported sports wagering in a 2020 general election ballot measure, and the groundwork was laid for legalizing online sports betting.

In January 2021, Maryland legislators reconvened to discuss the topic, and by May 18th, the bill was signed into law by Governor Larry Hogan. It is only a matter of time until all the licenses are distributed since online sports betting is legal in Maryland.

Whether it's betting on the NFL, MLB, or college sports, Maryland sports betting includes all the major sports as betting markets launch.

• NFL Betting

  In the US sports betting market, the NFL is always the league that generates the most handle, and Maryland sports bettors can now legally bet on the NFL. The NFL dominates Sundays and now there can be even more fun than just watching. Also, almost every Monday and Thursday night throughout the entire season has a primetime NFL game, so there is nonstop action throughout all 18 weeks. Maryland sports bettors certainly enjoy betting on the Football Team and the Ravens.

• NBA Betting

  The NBA has action almost every night, and now sports bettors can place bets on the NBA in Maryland. The NBA is great to bet on since bettors can focus on player props such as total three pointers made for a player or over/under points scored. Maryland online sports betting allow bettors to place wagers on the Wizards, so all Maryland residents can enjoy betting on their instate team. The NBA is a popular league in the United States and the legal sports betting launch continues to grow the handle of bets on NBA games.

• MLB Betting

  The MLB is another one of the top betting markets in the United States. It is expected that since Maryland has launched legalized sports betting, the handle of bets on MLB games will increase. The MLB is great to bet on since there are fun prop bets on games such as betting on if there will be a run in the first inning or a players total bases in a single game. Maryland residents can enjoy betting on the Washington Nationals as well as the Baltimore Orioles. Every fall, the MLB has its annual post season, so bettors in Maryland can enjoy taking action on these high profile baseball games.

• NHL Betting

  The NHL is one of the prime sports in the US market and it is expected to grow as sports betting continues to be legalized throughout the US. The NHL is great to bet on since it is so fast paced and action packed. Bettors in Maryland can enjoy betting on NHL teams like the Washington Capitals and can also enjoy betting on big time games such as primetime events like the Winter Classic as well as the playoffs.

• College Sports

  Legal sports betting in Maryland is unique to other states that have recently legalized sports betting since bettors can bet on in state collegiate teams. If a bettor wants to bet on the University of Maryland football team to win, a bettor in Maryland can. Collegiate sports is one of the most bet on sports in all of the US, so it is exciting that bettors in Maryland can also bet on college teams in the state.

With two NFL teams, one baseball team and some major college athletic programs littered throughout the state, there is a plethora of Maryland teams to bet on. Before you make the move, you will need to know how to bet on sports in Maryland.

• Baltimore Ravens

  The Baltimore Ravens made their NFL debut in 1996. The Ravens play at M&T Bank Stadium and are key to the community of Baltimore and are beloved by most Maryland residents. The Baltimore Ravens won their first Super Bowl in the 2000 season and won another in the 2012 season. They are frequently in playoff contention under head coach John Harbaugh and transcendent quarterback Lamar Jackson. The Ravens play in the AFC North division and will be fun to bet on as residents watch each Sunday.

• Baltimore Orioles

  The Baltimore Orioles are one of the most historic and recognized franchises in all of Major League Baseball. The Orioles play their home games at Camden Yards which is one of the longest-standing ballparks in America. The Orioles are rebuilding and had a winning season in 2022, and they will be fun to bet on as they continue to improve year in and year out. The Orioles play in the AL East division.

• Washington Commanders

  The Washington Commanders, despite their name, actually play their home games at FedEx Field in Landover, Maryland. Washington is one of the proudest franchises in all of the NFL, even though the team has had a rough past three decades in terms of winning. The Washington Commanders plays in the NFC East division which has some of the most famous rivalries in football history.

• Washington Wizards

  Formerly the Baltimore Bullets, the Washington Wizards play out of the Capital One Center in Chinatown, Washington DC. Their best years were in the 1970s and they won the NBA Finals in 1978. In the 2020-21 season they lost in the first round of the Playoffs to the 76ers. You would get long odds if you wanted to make a futures bet on the Wizards winning the Playoffs in 2023!

• Washington Nationals

  The Nationals won the MLB National League East in 2012, 2014, 2016 and 2017. Each time they failed to make the World Series. That was the time to bet on momentum. In 2019 the Washington Nationals made it to the Series and defeated the Houston Astros to win their first ever World Series title.

• Washington Capitals

  Maryland NHL bettors might want to try their luck with the Washington Capitals. The team used to play their home games in Maryland but have been seduced by the delights of the Capital One Center in Washington. The Capitals have 12 division titles under their belt and two Stanley Cup final appearances. The Caps lost the 1998 final but won it all in 2018. Numerologists might want to wait till 2038 before betting big on their next victory! For the rest of us Maryland’s legal online sportsbooks offer hundreds of different bets on every Capitals game.

• D.C. United

  The Black and Reds have quite a record in Major League Soccer. They have a dedicated stadium built for 20,000 fans which opened in 2018. And they have a long standing rivalry with the New York Red Bulls. This all makes for a team that is fun to support. Every year they play the Red Bulls for the Atlantic Cup; excitement is intense and this year online betting is likely to be equally ferocious.

• University of Maryland

  If the NBA doesn’t provide the success Maryland fans crave, there is always the NCAA. The Maryland Terrapins men’s basketball team plays in the Big Ten Conference and has achieved some of the best results of any college team. They were men's NCAA Tournament champions in 2002, and as March Madness approaches might well be worth a few wagers.

• Georgetown University

  The Georgetown Hoyas don’t often face off against the Terrapins. Instead the Hoyas play in the Big East Conference. They won the National Championship in 1984 and have made the Final Four five times. The Hoyas have taken home the Big East Conference Tournament trophy eight times including in 2021. Teams that are on a roll always attract a lot of betting action. Whether you want to go with the roll or bet against you will find plenty of ways to do so in the new online Maryland sportsbooks.

There are a number of Maryland sportsbook promos offered to all users.  These start with welcome promos and continue all year long. Users can also take advantage of pre-launch offers that are now available from a few of the larger Maryland sports betting sites.

• Risk-Free Bets

  Risk-free bets is a common promotion offered in online sports betting. A risk-free bet is a promotion that allows a bettor to use site credit, or be refunded on a loss, when betting on a certain event. Most sportsbooks offer a large risk-free bet for a bettors first ever bet with its sportsbook. However, sportsbooks also randomly offer risk-free bets when they are looking to promote an event. The pros of risk-free bets are obvious - a bettor can place a bet and lose nothing if it loses. The only con is that sometimes the refund is issued in non withdrawal-able site credit. This means the loses are refunded, but they must be bet.

• Deposit Match

  Another common promotion offered by a sportsbook is a deposit match. A deposit match is when a sportsbook issues the same amount of money a bettor deposits into their account. Normally, deposit matches are only valid for a first deposit. A pro of a deposit match is that a sportsbook will give a bettor free funds just for depositing, but a con can be that these funds may be only site credit and must be bet before they can be withdrawn.

• Referral Bonuses

  A referral bonus is a promotion sportsbooks offer customers. Most sportsbooks give each bettor a unique link that ties to their account. This link can be sent to friends, family, or anyone who currently does not have an account with the sportsbook. If someone signs up for a sportsbook using a link you provided, that bettor would receive some cash to bet in the form of a referral bonus. Some sportsbooks issue the bonus to both parties, while others only give cash to the person who distributed their referral link.

• Odds Boosts

  Odds boost is a type of promotion that increases the odds on a single event. Odds boosts happen relatively frequently, but they always care a maximum wager amount of $5-$50. Odds boost also happen more frequently on higher ticket events like playoff games of Pay-Per-View fights. An example of an odds boost would be if the Ravens are offered at -110 at every sportsbook to now +150 at whichever book is offering that odds boost.

• Parlay Insurance

  A very frequently offered promotion in sportsbooks is parlay insurance. Parlay insurance is an offering from most sportsbooks that allows a parlay to lose one leg but still win. All parlay insurance is capped with a specified max bet as well as certain terms that need to hit. Parlay insurance is only valid for parlays in a single sport with four or more events included. The pros are you only need to hit three of four events to win, but the cons are this will cut into a larger payout and bettors cannot combine sports.

It is imperative for bettors to make accounts on all Maryland online sports betting platforms because each site will offer different promotions and odds on events. Placing a bet at better odds will make a bettor more money, and taking a bet at less vig will lose a bettor less money. Finding the best line available is one of the easiest, yet most often overlooked way for a bettor to gain an edge.

Get The Best Line

One of the easiest, yet often overlooked, way to gain value in the betting market is to download multiple Maryland online sports betting sites and shopping around for the best available line. While lines will often be very similar across most books, there is more value in taking a bet that is listed at -105 compared to -110. By having access to more Maryland sports betting sites, bettors can ensure they are getting the best line available to get the most value.

Bet Offerings

Not all sportsbooks offer the same events, and not all events have the same odds associated with them. Some betting sites use the same software to generate their odds, but not all sportsbooks do, so odds will differ from book to book. Also, not all sportsbooks offer the same bets in the live betting and futures market. Having multiple books will allow bettors to find different bets at better prices just by having multiple sports betting apps available to them.

Feel the Sportsbook

Before even creating an account and depositing money to a sportsbook, user can almost always play around with the user interface. This is great because it allows users to get an understanding of the odds and helps with navigating the website. It is encouraged that bettors take a look at all the operators available to them since there may be something avilable that is not offered elsewhere.

Sportsbook Rules

Betting sites are not uniform when it comes to how they grade events. Different books have different payout styles, odds, and maximum bets allowed on certain markets. For example, BetMGM pays golf props when there is a tie. Another example is a two-way market on a bet that isn't always offered that way. Bet365 offers a two-way market on no touchdowns scored in the NFL games, meaning a user can bet yes, there will be touchdowns, or no, there will not. This is important because, at a book like DraftKings where there is no two way market, they will refund any time touchdown bet if none are scored. But, since Bet365 offers a two way market, bets will not be refunded.

Another example is odds on bets like teasers. Some sportsbooks offer two-team six-point teasers at -120 while others offer it at -130. Over time, taking bets at -120 compared to -130 will make a bettor more money rather than paying an extra 10 cents in vig every time.

Below you'll find a breakdown of the most popular bet types the top sportsbooks offer.

• Moneyline

  Legal sports betting in Maryland give bettors the ability to bet the moneyline on sporting events. The moneyline is a bet on one team winning an event without any addition or subtraction of points. In most cases, one team will be the underdog and have positive odds while the other team will be the favorite and have negative odds. For example, if the Orioles are playing the Yankees and a bettor wants to bet on the Yankees to win straight up, they will bet the Yankees moneyline.

• Parlays

  One form of sports wagering is paraly bets. A parlay bet is a bet that combines two or more bets into one. If a bettor takes a parlay, the odds of the parlay will be contingent on the combined odds of both straight bets. In order to win a parlay, all of the events need to win. For example, a bettor can parlay the Washington Commanders and the Baltimore Ravens to both win on an NFL Sunday, and if both teams win, that player will cash their parlay.

• Totals

  Betting a total is a wager on the total final score of a game. Sportsbooks will offer a number for the final score of an event and it is up to the player to bet whether they believe the final score will be greater or less than the number posted. Totals are more common in higher scoring sports such as the NFL and the NBA, but they still exist for sports like the NHL and the MLB. An example of a total would be if the New York Knicks are playing the Washington Wizards, the total may be set at 202 points, and a bettor would place a wager on if the total final score will be greater or less than 202.

• Point Spreads

  Betting against the spread is the most common from of sports betting. An example of a point spread would be if the Baltimore Ravens are playing the Cleveland Browns, the spread of the game may be Ravens -3. In order for a bet on the Ravens to cash, the Ravens need to beat the browns by more than three points. Spread betting is adding or subtracting points from one teams total and usually carry odds of -110.

• Futures

  A future bet is a bet on an event that is happening later in a season. Future bets can be placed as soon as odds are posted for the next season, so as far as months in advance, but future bets can also be placed just a week or so in advance. An example of a future bet would be a wager on the Wizards to win the NBA championship. This bet can be placed on the first day of the season, or a during the NBA playoffs. However, depending on the team's situation at the time will dictate the odds offered on a futures bet.

• Prop Bets

  Prop bets are short for proposition bets. Proposition bets are wagers on a players statistics for a game or an event going on in the game. For example, a prop bet on a player could be the over/under points for Kyle Kuzma. An example of a game prop would be the total number of field goals in the Ravens game. All professional sports leagues have prop bets offered and they are a great addition to the the legalized sports gambling landscape in Maryland.

• Live Bets

  Live betting is placing a bet while an event is already in progress. If the Ravens game has started already, a bettor can place a prop bet, a total bet, an against the spread bet, or a moneyline bet on the contest. Live bets are great for a player looking to get an edge on an event that they did not like the closing total. For example, if the Baltimore Ravens are -7 against the Pittsburgh Steelers, and after the game starts, the line goes to Ravens -5, a live bettor can jump on that opportunity to get a better number.

• Prohibited Bets

  At the moment, there are no prohibited bets in the state of Maryland. Other states with legalize sports betting have rules that bettors cannot bet on collegiate teams in the state, but Maryland has no such rule. This means that if a bettor wanted to watch the Maryland Terrapins basketball team at College Park, and take a bet on the game, a bettor can do that.

Sports betting is live in Maryland. Here are some other options and details on whether or not they are available. 

Daily Fantasy Sports

Maryland already has daily fantasy sports readily available. People 21 and older in Maryland can hop on and play daily fantasy sports right now.

Horse Racing

Horse racing tracks were automatically granted licenses for retail sports betting. Bettors in Maryland can go to a horse racing track and begin taking bets on horses.

Elections

No, it is not legal to bet on the election in Maryland. There is no option to bet on politics at all. This may change in the future, but for now, it is not legal.

Pop Culture Ceremonies

Bettors cannot bet on pop culture ceremonies legally in Maryland. While this could change, it is not expected at launch. These ceremonies could make for a tremendous market someday.

eSports

One of the newest betting markets around is betting on eSports. Bettors in Maryland can bet on online sporting events. eSports is quickly becoming an emerging market in the industry.

Maryland sports betting law allows for 60 mobile sportsbook licenses, 47 retail sportsbook licenses and 3 reserved licenses in the case that a major professional sports team relocates to the state. The law allows all 5 of Maryland’s casinos and major sports facilities to offer retail sportsbooks. 

Class A-1 Licenses are allocated to casinos with more than 1,000 slots, racetracks and sports facilities. That means casinos MGM National Harbor, Live! Casino and Horseshoe Baltimore; stadiums M&T Bank Stadium, Camden Yards and FedEx Field; and racetracks Laurel Park and Pimlico are eligible for licenses. Class A-1 licenses cost an initial $2 million and $500,000 in annual renewals.

Class A-2 Licenses are allocated to casinos with fewer than 1,000 slots, meaning Hollywood Casino, Ocean Downs and Rocky Gap are eligible. Licenses cost $1 million initially and $300,000 to renew.

Class B-1 Licenses will go to businesses that employ more than 25 people and generate $3 million or more in annual revenue. Those businesses include the state’s off-track betting facilities, the Timonium Fairgrounds and Bingo World in Baltimore. B-1 license cost $250,000 to acquire and $50,000 for renewals. 

Class B-2 Licenses include organizations with fewer than 25 employees and less than $3 million in annual revenue. Licenses require $50,000 initial fees and $10,000 in renewals. 

State officials estimate Maryland sports betting could generate up to $20 million a year in tax revenue. Both lawmakers and the November 2020 ballot measure explicitly stated that the primary purpose of this revenue will be to fund public education. This is one of the ways sports betting can be beneficial to a state.

Why Maryland Will Be Huge for Betting

Maryland is home to the highest median household income in the United States. It also has 6 million residents; of which 3.7 million are over the age of 21. Next to Maryland is Washington D.C., which has legalized betting, but the options are not great. These demographics, plus sports teams like the Baltimore Orioles and Baltimore Ravens, make Maryland a sports betting haven. Industry experts suggest it might be one of the most lucrative markets in the U.S.

Legal Maryland Online Sports Betting Tax Rate

The tax rate on operators is 15% for major retail vendors as well as online sportsbooks. There is a secondary retail license given out which is taxed at 13%. However, 15% is a fair rate and is on par with most other states. At the moment, the state with the highest tax rate is New York with 51%.

Bettors can deposit money into sports betting apps by credit card, PayPal, ACH, or check. It is safe to deposit money with online sportsbooks as they are trusted brands. Not all sportsbooks offer the same deposit options, so make sure to check the options before making an account.

It is also very important that sportsbooks payout winning bettors. Withdrawing funds takes longer than depositing. Sportsbooks generally have a 48-96 hour window for withdrawals to hit accounts.

Maryland is set to give out a vast number of licenses to operators. This is great for the state's sports betting market since users will have a ton of options to get action down. Maryland will grant licenses to 60 operators, while New York only has 9. It's a simply process to sign up for an account for the apps. 

We would recommend avoiding offshore sportsbooks for a number of reasons.

• ❌ Offshore sportsbooks are illegal in the United States.
• ❌ Betting at one is a federal crime.
• ❌ There is little regulation for some operators.
• ❌ Your personal information might not be secure.
• ❌ You might not be guaranteed any of your winnings.
• ❌ You could lose your deposit money.

If that is not enough to convince you to avoid offshore sportsbooks, consider that your money goes out of the United States. By betting at regulated sports betting sites in Maryland, the money supports the local and national economy and children's education. 

Sports betting sites are live in Maryland and bettors no longer have to cross state lines to wager. By keeping gambling dollars in state lines, initiatives through taxes can be set forth. For example, Maryland has a set 15% tax rate for sportsbooks. The taxes are going towards the Blueprint for Maryland’s Future Fund, a 10-year early childhood, and primary and secondary education funding and expansion plan.