Legislation that could legalize sports betting passed Maryland’s state Senate unanimously Tuesday ― opening up the possibility of fans gambling on the Ravens, Orioles and Terps.
Without discussion, senators voted 47-0 to approve a bill, sponsored by Montgomery County Democratic Sen. Craig Zucker, that would let voters decide during the November election whether to allow gambling on a wide variety of games. Betting would be allowed on college and professional sports, but not high school contests.
According to legislative analysts, sports betting could generate around $20 million annually ― money lawmakers say is needed to contribute to a sweeping, expensive overhaul of the state’s public schools.
To be eligible to run a sports betting operation, a licensee would need to pay a one-time application fee of up to $2.5 million and renew it annually at an additional charge, under the legislation. The licensee would keep between 75% and 80% of the profits, with the rest going to the state’s Education Trust Fund.
Click here to read the rest of the article written by Luke Broadwater over at The Baltimore Sun