Super Bowl LVI Marks First with Legal Sports Gambling for Maryland

BERLIN, Md-  The Big Game comes with big bets this year, as experts predict over 1 Billion dollars will be placed in bets on the Super Bowl this year. With Maryland’s Legal sportsbook up and running since December, the state is positioned to see some of those wagers make their way into the state’s tax revenue.

“It is by far and away the largest sports wagering event on the calendar,” said Director of  Maryland Lottery and Gaming John Martin.  Martin tells us the Super Bowl is always the biggest day of the year in the sports betting world, but this year’s event has even more money riding on it than in previous years.

“Legal betting the sports handle for the Super Bowl will be over a billion dollars, that’s twice what it was last year so in a year it has double ted the market and gone from 500 million to a billion that is staggering,” he said.

He tells us that figure is nationwide but Maryland was able to launch its market just in time to get in on the action.

“We anticipate the annual take for Maryland to be between 15 and 25 million once we get everything up and running,” Martin said. A big pre-requisite for that figure is the launch of online or mobile sports betting. Martin tells us in states where it is already up and running they account for 90 percent of all sportsbook bets placed, with the remaining 10 percent collected at brick and mortar locations like Ocean Downs Casino in Berlin.

Those dollars, don’t just go to the state, according to Martin.  With more people coming into casinos to place those bets, they spend more on other games and that money stays right in communities where Casinos like Ocean Downs are located.

“Speaking with the casino operators they are very excited and encouraged with the buzz in their buildings on game days so it means for them that people are going into the facilities and staying and enjoying products at those properties,” he said adding “One of the advantages at all the properties from increased foot traffic is it keeps the money local,” he said.

Maryland’s Online Sportsbetting is expected to launch later this year, but officials at the Casino tell us even those online sales still have a portion of the revenue circle back to the state and locality where those bets were routed from.

 

 

 

Categories: Local News, Maryland