During the past few years, states across the country have begun taking a liberal approach to gambling. Although the state of Maryland was late to the game, it has finally followed suit.
Maryland residents and tourists will be able to enjoy a wide assortment of games, including poker, table games, lottery, and more. In addition to this, Maryland residents can legally play games online and in person. With that being said, some activities may still be illegal in the area.
Regardless, the state’s casinos have had immense success during the past few months.
Below, readers will learn more about Maryland’s gambling laws and the recent record set by Maryland casinos.
Recently released statistics have proven that betting and gambling are more popular than ever in Maryland. The state does not have laws regarding online gambling in the state. However, establishments have to be licensed in order to offer legal gambling. Offshore gambling sites will not be legal since they do not have a state license. Daily fantasy sports were legalized in 2012. However, players will face a handful of limits, including segregated player funds and a daily deposit limit. Another thing to note is that players must be 18 and there is a ban on college sports.
In total, Maryland is home to six casinos. These companies are regulated by the state lottery. The first to open was the Hollywood Casino Perryville. This casino opened in September of 2010. Ocean Downs opened a few months later. The other casinos in the state include Rocky Gap, MGM National Harbor, Horseshoe, and Maryland Live. Typical games available at these casinos are legal.
For instance, Maryland residents can visit these casinos and play many games such as poker, slots, and more. Another thing to remember is that these casinos do not have bet limits. Right now, these casinos have more than 12,000 slot machines and 600 table games. They are visited by millions of people from Maryland and around the country each year. Maryland casinos were legalized after a special session in 2007.
Gross revenues from casinos are based depending on the type of device being used. For instance, live poker and table games As for video poker, slots, and electronic table games, they are taxed at 67%. Suffice to say, Maryland generates immense revenues from local gambling facilities. Statistics have shown that these establishments have gained in popularity during the past few years.
New Monthly Revenue Record
Maryland residents and tourists have flocked to casinos in record numbers since the COVID-19 pandemic is nearly at an end. Recent statistics have shown that Maryland casinos have set a new monthly revenue record. This isn’t the first time. The casinos have set a record twice during the past three months. On Monday, the Maryland Lottery reveals that the state’s six casinos generated more than $172 million during the month of May. Prior to this, the single-month record was $169.2 million.
The six casinos brought in $73.4 million for the state during the month. Compared to May of 2019, these casinos earned an additional $9.7 million. However, it is important to note that the state’s casinos were closed from mid-March to mid-June last year due to the COVID-19 pandemic. In addition to this, $53.3 million were contributed to the Education Trust Fund. That means that it increased by $5.5 million from May of 2019. Maryland’s casino revenues are utilized for many purposes, including supporting communities.
Baltimore-Washington Region Thrives
Fewer people visited Maryland’s casinos during the pandemic. However, the Baltimore-Washington region had enough customers to make it one of the largest-grossing locations in the United States. Most people believe that Atlantic City and Las Vegas are the biggest in terms of casino gambling revenue. A recent report from the American Gaming Association has proven that the Baltimore-Washington area is growing. It is now the third on the list. A recent job fair was held at the Live Casino to find new workers. Job applicants said it was difficult to get into the casino before the pandemic because it was immensely popular.
With COVID-19 ending, casinos are opening up and more workers are needed. Either way, Maryland is becoming a hot spot for gamblers. Its casinos are generating record revenues and this likely won’t stop in the near future.