By
Jerry Smith
Staff Writer Updated: 04/10/2023
Jerry’s greatest advantage is his extensive experience on the casino floor. His time as a casino manager taught him everything about what makes a player tick. Besides being a skilled poker player, he has deep knowledge of all live table games and gambling regulations in the US.
Legalizing Online Casinos in Maryland
The issue of legalizing online casinos in Maryland has been ongoing for some time, and many were hoping to see online casinos being legalized this year.
However, according to recent reports, it is more likely to be 2024 before there is any chance of digital casino gaming being given the green light in the state. This will come as a huge disappointment for many gamblers, but some officials believe that it will be successful next year.
Problems have arisen with the approval of Senate Bill 267, which has dashed the hopes of many gamblers hoping to see online casino gaming legalized.
Co-sponsor of the bill, Senator Ron Watson, now believes that online casino gambling will be legalized next year. Until then, online casinos in Maryland can offer social online games and sweepstakes, but table games and slots can only be played for fun without the use of real money.
According to officials, legalizing casino gaming online is the next step for the state after online sports betting was legalized in November last year.
Watson said that the state had already seen just how beneficial online gambling could be in terms of bringing in more revenue, as online betting has proven very successful. He added that with online casino gaming in the mix as well, the state could really boost revenue levels and benefit from protection in case of another pandemic. He said:
Folks have started to see the revenue we can get from sports betting, I think we’re past the point of hesitation, and we’ve realized that casinos are so valuable to our economy here in Maryland.
He added that a situation such as another pandemic would mean getting zero revenue from casinos, but that having online casinos would ensure that the state’s revenues were protected.
According to Watson, tax revenues from online casino gaming could bring in around $100 million a year in tax revenue. Under the bill, the tax rate for online casino gaming would be set at 15 percent, and the fee for a 5-year license would be $500,000.
The revenue made from online casino gaming would go toward the Education Trust Fund and would also cover regulatory expenses. It was confirmed that under the bill, bonus play and promotional deductions would also be allowed.
Watson said that there was plenty of time to work things out regarding the regulation of online casino gaming and that he was confident that it would all fall into place next year.
This will come as good news for casino gamblers as well as for operators, despite the disappointment of not being legalized this year. With more and more people turning to online platforms for gambling – particularly since the global pandemic – the state stands to make a very impressive amount of money through tax and licensing once it has been legalized.
However, the downside is that even if the bill is passed in 2024, it’s unlikely people will be able to benefit from online casinos until the following year due to the processes that have to be put into place.
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