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HANOVER, MD (WBFF) – Maryland is surrounded by states that allow sports betting forcing fans and gamblers elsewhere to risk it all on their favorite game; as with the people, go the added tax revenue but that could change in November and it’ll be up to voters to decide.
Voters in Maryland will see Question 2 when they decide to fill out their ballots. It reads:
“Do you approve the expansion of commercial gaming in the state of Maryland to authorize sports betting for the primary purpose of raising revenue for educations?”
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Currently, about half of the country allows sports betting. More importantly, according to Joe Weinberg, CEO of Cordish Gaming Group, parent company of Live! Casino and Hotel in Hanover, the states surrounding Maryland have legalized sports betting: Pennsylvania, Delaware, Virginia and Washington, D.C.
Caption: Construction underway at Live Casino in Hanover to create new sports betting lounge that could be ready for plays in third quarter of 2021. (WBFF/Mikenzie Frost){p}{/p}
“Players are just going into those jurisdictions to bet on sports. It’s a real lost opportunity if we don’t pass sports betting here in Maryland,” Weinberg said. “If we don’t get the taxes here, it’s just going to go to our surrounding states.”
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Vegas odds ncaa basketball. While players bet on slot machines and other games on the main floor, construction is underway inside to complete a $12 million project to incorporate sports betting.
The plan will have 212-seat sports and social areas, Weinberg said, and would allow guests to watch at least 10 different games at once. Plans also include two main bars, VIP lounges, tiered sports viewing lounge chairs, casino games and interacting games like mini-bowling and oversized foosball.
“We are excited to add this nationally-recognized venue to the incredible selection of dining and entertainment experiences at Live! Casino and Hotel. If Maryland voters pass Question 2, Sports & Social will also become home to the most exhilarating sports betting facility in the region. In doing so, we will realize the potential sports betting has to bring tangible benefits to the State, including tens of millions of dollars in new tax revenue that will support our schools,” said Rob Norton, President, Cordish Gaming Group.
New tax revenue is expected to near $40 million if sports betting is legalized. If voters okay the plan, the legislature will be tasked with passing rules and regulations to get the program off the ground. House Majority Leader Eric Leudtke, D-Montgomery County, said the money will go toward schools.
“We’re missing out on $30 to $40 million in revenue that we can spend on schools and that we don’t have to get from tax dollars,” Leudtke said.
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Sports betting targets a different demographic, too, Weinberg said. Typically, men between the ages of 35 and 50 are the main supporters of sports betting, which he said, could mean even more money.
“It’s just been shown that sports betters will be new customers for the casino. When they are here to bet on sports, they will also play casino games,” Weinberg said. “We think that over $100 million of new revenue from spinoff play from just new customers coming into the facility.”
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If approved in November by voters, Weinberg said he anticipates the legislature passing regulation plans early in 2021 and the new facility could be up and running, ready for sports fans to place bets, toward end of summer in 2021.
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Follow Political Reporter Mikenzie Frost on Twitter and Facebook. Send tips to [email protected].