The city says the prediction-market operators disguised sports bets as event contracts and skirted Maryland licensing rules.
State regulator calls Nov. 16 incident “an inadvertent mistake” but also a serious one. It imposed a $1,000 fine for each of the 146 wagers accidentally processed during a pre-launch testing period.
FanDuel and DraftKings combined for nearly 86% of the new market. But operators’ deductions for promotions wiped out nearly all the tax revenue to the state.
After winning Maryland Lottery and Gaming Control Commission (MLGCC) approval, another panel will consider applications by both operators for a mobile sports wagering license next week.
The state estimates annual tax revenue from online sports betting in Maryland will total $30 million next year and reach $100 million by 2027.
Merchandiser’s sports betting plans move forward after billionaire CEO Michael Rubin agrees to sell stake in NBA and NHL teams. The next day, Maryland regulators gave BetFanatics a retail license.
Caesars, DraftKings, & WynnBET were the only three sportsbooks to air commercials during the Super Bowl in the Washington, DC metro area.
With Super Bowl XVI less than two weeks away, we look at how the sports betting industry has exploded in the last 12 months and why we think this year’s big game will be the biggest in wagering history.
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