Online casinos in the US seem to have hit another breakthrough. A new, amended bill is being pushed through in Maryland that’s set to legalize online gambling in the state.

As of March 16, 2024, the Bill has passed the House and will now need to be approved by the Senate.

About the Maryland Online Casino Bill

Many believe that Maryland has the best shot at legalizing online gambling in 2024, largely thanks to this bill. Its proponents are highlighting the projected $1.3 billion in yearly tax revenue from online casino businesses that can be funnelled into education and transportation.

At its core, the bill simply proposes a Maryland-based online casino authority that would license and regulate operators. The proposal has gone through many changes since it was first introduced, and now also features regulations such as a ban on credit card deposits and additional DEI guidelines.

Among other things, it calls for a 55% tax rate on electronic gambling games. That would make it one of the highest rates in the US, where most legal states tax 15-57%.

Operators would pay an initial $1m fee for a five-year licence, with a renewal equal to 1% of average annual profit for the preceding three years. The bill sets up three levels of licensing, and “social equity partners” play a key role in the structure.

What Else Can We Expect?

The Senate now has less than a month to pass the bill. The general assembly is set to adjourn on April 8.

However, we should note that such bills are generally difficult to pass. The reasons for this are many, ranging from a lack of education to strong opposition lobbying.

However, should the bill make it into law, it would be a big step towards legalizing online gambling in the US. It would make Maryland one of a handful of US states with fully regulated markets, with hopes that states like Illinois and New York would follow suit.