PointsBet Set to Offer Sports Betting in Maryland
Experts predict online sports betting to be live in Maryland by the fourth quarter of 2021. PointsBet appears poised to be one of the first sportsbooks live in the state once legal betting officially begins.
PointsBet, a well-known sportsbook that was founded in Australia, is looking to make a big splash in the state of Maryland’s sports betting market. A 10-year contract was reached by PointsBet and the Riverboat Group a few days ago.
The agreement will give PointsBet the authority to operate out of The Riverboat-on-the-Potomac, an immensely popular gambling destination for Maryland residents.
The deal also provides PointsBet the opportunity to offer online sports betting in “The Old Line State”. Maryland residents are passionate about bringing sports betting to their state, so much so that over 65% of voters voted “yes” to legalize sports betting back in November.
Maryland Governor Larry Hogan made sports betting officially legal in the state back in May when he signed the deal into law.
How does setting up shop in Maryland benefit PointsBet?
PointsBet loves the fact that Maryland is in close proximity to Washington D.C. and Virginia, both of which have recently gone live with legal sports betting.
Planting their flag in the state of Maryland makes plenty of sense for PointsBet from a marketing standpoint because now they will have the chance to entice sports bettors from three different prime locations.
PointsBet doesn’t have access to D.C. or Virginia at the moment, but that should change very soon. Even as they wait to form partnerships within those two jurisdictions, PointsBet will still be able to run commercials in the entire region because of their key partnership with NBC Sports Washington.
The Riverboat-on-the-Potomac encompasses both Maryland and Virginia so both states will reap the benefits of the added revenue that PointsBet will bring to the table.
How does legalizing sports betting benefit the state of Maryland?
The legalization of sports betting will bring millions of dollars in taxes and fees to the state of Maryland. The law states that the majority of this money will go to help with various public education programs.
The Maryland Lottery and Gaming Commission estimates that roughly $184 million dollars will be brought into the state each year by mobile sports betting.
The overall deal seems like a win-win situation. Sports enthusiasts get to engage in one of their favorite activities legally and the tax dollars benefit the school system.
What are some of the strengths of PointsBet?
Johnny Aitken, PointsBet USA’s Chief Executive Officer, hit on several of his company’s strong points in a recent press release. PointsBet prides itself on having some of the best betting software on the market today, which is a key to overall user-friendliness for its customer base.
PointsBet also shows a high level of innovation by offering more betting options than most online sportsbooks.
PointsBet strives to make things as easy as possible for every sports bettor. Their app and website are equipped with nice features like written game previews for each game and a clock that counts down the time until each game starts. The PointsBet mobile app makes live betting easier than ever.
Is PointsBet offered anywhere else in the United States?
Yes, PointsBet currently offers sports betting in New Jersey, Michigan, Iowa, Colorado, and Indiana. Maryland will mark the sixth state in the USA to offer PointsBet to its citizens.
PointsBet made its United States sports betting debut by first coming to the state of New Jersey back in 2019 by partnering with Meadowlands Racetrack. The deal allowed PointsBet to bring mobile sports betting to the state of New Jersey.
How is sports betting going to be different in Maryland?
Most states are only interested in issuing gambling licenses to huge conglomerate-like corporations. Maryland is different in that aspect because they are welcoming gaming operators of virtually all sizes.
The state’s licensing tiers start at only $50,000, which allows smaller companies a legitimate opportunity to offer sports betting.
Maryland is allowed to issue up to 60 sports betting licenses which are refreshing to see. It’s not just casinos that will get in on the action either. Pro sports stadiums, horse racetracks, and even some restaurants and bars may be able to offer sports betting in Maryland.
No one has an exact date as to when Maryland will go live with in-person sports betting. The start of football season would be a perfect target for a launch date, but many folks doubt that things can be put in order that quickly. A reasonable launch date is probably sometime in October, possibly in time for the World Series.
Besides PointsBet, what other big-name sportsbooks will have access to Maryland?
Several of the familiar sports betting brands will enjoy access to Maryland once things go live. Twinspires, BetMGM, Caesars, and Barstool Sports are just a few of the companies that will be primed and ready to roll since they already have established partnerships with various Maryland casinos.