Maryland Sports Betting
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Maryland legalized sports betting after voters approved the activity in late 2020 via a ballot referendum. Enabling laws were created and approved, and now players are waiting anxiously to post bets on their favorite teams.
Maryland can offer both retail and online betting options once services are live. Top-rated operators are expected to enter the new market once the licensing process begins.
Pros & Cons Of Betting On Sports In Maryland
- Place bets via mobile while on the go.
- Access to online and retail sports betting.
- Operators offer players a variety of bets like moneylines, totals, props, and futures.
- State professional sports teams and stadiums are allowed to offer services with licensing.
- Mobile betting requires internet service.
- Players must be 21 years of age or older to wager.
- Sports betting winnings are considered taxable income.
Would We Bet On Sports At Maryland Sportsbooks?
Yes! The state legalized online sports betting in 2021. Services should begin by the end of the year.
We expect the sports betting market in Maryland to blossom once it is live. With 30 licenses up for grabs for physical locations, players should have plenty of retail options to use for in-person wagering.
The online market will be even larger, ensuring that bettors have several brands to pick from when placing an online bet. With sports teams and casinos in on the action, the state will eventually be filled with a large selection of sports betting service providers.
How To Sign Up At A Betting Site
New players to the Maryland sports betting market will need to set up accounts with operators offering services. The process is generally the same no matter which operator you choose.
Select the ‘Sign-Up’ or ‘Join Now’ button to begin. Fill out the registration form and include your name, address, email, telephone number, and last four digits of your social security number.
You will also need to provide ID verification, such as a copy of your driver’s license. The verification process can take up to 48 hours in some cases, so be sure to open an account early to be approved for betting.
Only sign up for one account per operator. If you try to create a new account after already having one opened, it can lead to being locked out of services. You would need to contact support to receive help to gain access to your account once again. To avoid any trouble, only create one account per brand.
Like other states in the US, Maryland requires players to be located within its borders to access real money sports betting. After you sign up for a new player account, the operator will request you download and install GeoComply software.
This software uses geolocation technology to detect your location. As long as you are in Maryland, the operator will allow you to access its application or website and place sports bets.
Sports Betting Apps
To take your gaming on the go in Maryland, a sports betting app is needed. With an app on your iOS or Android device, you can place a bet anytime you like.
Mobile gaming allows you to gamble while watching your favorite team on the field or posts a future wager before a game occurs. Apps are the most convenient form of sports betting and a top choice among bettors.
Pros & Cons of Sports Betting Apps
- Apps offer the same excellent services as desktop websites.
- Bet from anywhere you have an internet connection.
- Access promotions, including sign-up bonuses for extra cash.
- Find a variety of betting markets, including NBA, NFL, MLB, NHL, and many more.
- Bet types are plentiful, with operators providing moneylines, props, totals, etc.
- Without an internet connection, you are unable to access services.
- You must be located in the state to bet.
- Additionally, many bettors will find a smaller screen to be very limiting.
- Players must be 21 years of age or older to wager.
How To Fund Your Betting Account
Before you can place a bet for real money in Maryland, you need to fund your sports betting account. Operators in the state offer quality methods for depositing, making it super easy for you to add funds.
How to Deposit:
- Log in to a sports betting account via an operator in the state.
- Select the cashier and choose deposit.
- Choose a banking method and follow the directions to complete the transaction.
When it comes to cashing out, options are provided for seamless withdrawal. Even if you are new to online sports betting, you will have no trouble adding or removing your account funds.
How to Withdraw:
- Log in to your online sports betting account.
- Click on the cashier and select withdraw.
- Choose a method for withdrawal and enter the amount you want to remove.
- Complete the transactions and once you receive funds, use them as you like.
Online Sportsbook Payment Process
Let’s talk about banking methods. In Maryland, providers want to ensure that every player has access to a banking method for deposit and withdrawal.
An excellent collection of financial methods can be found in an operator’s Cashier that allows you to get started with real money sports betting. Check out a few of the most commonly provided methods below.
Common Deposit Methods:
- Credit/debit cards (Visa/MasterCard)
- Online banking
Common Withdrawal Methods:
- Online banking
How Do Sports Betting Sign Up Offers Work?
One common denominator that every online sportsbook has is sign-up offers. Every operator will provide some incentive to entice you to try their brand.
Generally, sites offer first deposit deals, a no deposit offer, or a risk-free bet. Each option is a good choice for adding extra funds to your account or trying a new online operator risk-free.
First Deposit Offer
With this offer, an online sportsbook will provide you with bonus cash based on your deposit. Usually, the site offers a percentage of what you added.
Take this deal, for example. Let’s say an operator has a 100% first deposit deal worth up to $1,000. You need to deposit up to $1,000 to earn 100% back in bonus cash.
This type of deal usually requires a bonus code when depositing, so be sure you enter the code incorrectly to take advantage of the deal. Promotions also include wagering requirements, so read the terms and conditions to understand the offer before claiming fully.
In general, this offer requires the bonus plus deposit amount to be wagered a certain number of times before winnings can be withdrawn.
No Deposit Offer
If you want to try a sportsbook without deposit funds, then a no deposit offer is your best bet. This deal does not require a deposit and offers you a certain amount of cash to wager with at the site.
However, if you win the bet, you must deposit before you can withdraw what you won.
This is another excellent promotional option for players who do not want to deposit funds. A risk-free bet is a wager offered by the sportsbook where if you lose the wager, the provider gives you the amount back in bonus cash.
Let’s say a Maryland online sportsbook is offering a $100 risk-free bet. You place the $100 wager, and you lose. While this is a downer, the provider gives you $100 back in bonus cash to be spent on more bets.
If you win your wager, you get to keep it, so it’s a win-win situation no matter the outcome.
Where Can I Place A Bet In Maryland?
Casinos are expected to be the first to offer sports betting in Maryland. Once services launch, we will list the available locations and services provided.
Maryland Sports Betting Laws And Tax Rates
The Maryland Gaming Commission is in charge of the new industry, responsible for regulating, licensing, and overseeing operators.
For major retail vendors and online sportsbooks, operators must pay a 15% tax on gross gaming revenues. For the secondary retail license holders, the amount is a bit lower, at 13%.
The legislation allowing sports betting is quite large and will offer 60 online sportsbooks to be licensed and 30 retail options. Commercial casinos, sports teams and stadiums, small businesses, and arenas are all eligible for licensing.