Maryland Senators Ron Watson and Nancy King have introduced a bill that could lead to the legalization of online casino gaming in the Free State.
SB 267 was introduced yesterday (January 25th) in the Maryland Senate and proposes a ballot measure that would pose the following question to Maryland voters:
“Do you favor the expansion of commercial gaming in the State of Maryland to authorize Internet gaming for the primary purpose of raising revenue for education.”
According to the synopsis of the bill, if approved, the legislation would allow the Maryland Lottery and Gaming Commission to issue iGaming licenses to local gambling operators. It would also authorize the Governor to enter into Internet gaming agreements with other states. However, the Act must be first approved through a referendum.
The text of the bill states that ‘casino-style internet gaming’ would be allowed. However, it does not go into any further details nor does it specifically mention online poker. An initial license fee has been set at $500,000 and licenses will run for five years. The bill also proposes a renewal fee of 1% of the license holder’s average annual proceeds over the course of the first term of operation.
The bill sets a tax rate of 15% with all taxes generated from the industry minus costs to be paid directly into the state Education Trust Fund.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.