Maryland mulls new online gambling bill

Maryland has become the latest state in the United States to consider the legalization of online casinos or iGaming as the vertical is known in industry parlor. The news was shared by Hayes Gardner, a Baltimore Sun reporter, who confirmed in a Twitter post that the state senate would consider putting the bill up for a vote on the 2024 ballot.

Much like other jurisdictions in the United States, the shift towards a regulated online gambling industry involving casinos is not an easy process, but it’s definitely feasible. SB 267 will first be up for debate at the Senate Budget and Taxation Committee, which should push it through for a floor vote, and then send it to the House of Representatives for a similar reviewing process.

There is plenty of time to make a decision, as the legislative session in Maryland lasts through April 10, giving lawmakers enough time to acquaint themselves with the draft law and decide. There is strong support in favor of the bill as well, with Sen. Ronald L. Watson and Sen. Nancy J. King hopeful that they can push the proposal successfully through to a state vote, leaving residents to decide on the fate of online casinos.

Should SB 267 tread through the legislative quagmire, both Watson and King feel confident about its chances of succeeding at a state-wide vote. The bill itself is based on the work of similar draft laws that have passed successfully in other states.

SB 267 would expect online casino applicants to be prepared to pay a licensing fee worth $500,000. A license would be granted for a period of five years under the proposal, with the current tax rate proposed by the bill at 15%. The bill also envisages the exact question it would be asking state residents.

Voters would have to give their yes or no for a question which would roughly be phrased like this: "Do you favor the expansion of commercial gaming in the State of Maryland to authorize Internet gaming for the primary purpose of raising revenue for education?"

The question is not picked by chance either. Maryland and the bill backers are hoping to leverage any tax revenue generated through gambling expansion and spend it back on big causes, such as education in this case. Much remains to be seen whether Maryland’s legislature and voters would actually back this move, but there seems to be little opposition at present time. It all comes down to the next month and how fast the bill can make it through committees and floor votes.

Image credit: Unsplash.com