A Chesapeake Beach Wrinkle In Maryland Sports Betting?
The last month for Maryland saw them rake in $3.2 million in revenue as sports betting in the state picks up. In sports betting legal news, there are some towns that are considering taxing sports betting in the state. That will not sit well with those who wager in Maryland.
Having said that, Chesapeake Beach is considering taxing sports betting to get in on the ground floor so to speak. The question is this. Why? That is simple. Chesapeake Beach is one of those towns that has a more “dry-town approach”. Most people in the town do not support sports betting in any shape and form.
When Governor Hogan of Maryland let the sports betting matter go to the ballots, it was inevitable that voters were going to approve the measure. That forced the residents of Chesapeake Beach to adopt different strategies. The result is because they see this. Dollars.
Maryland's first month of sports betting resulted in nearly $500,000 in taxes for the state. https://t.co/EHYdzGv6j4
— RLinnehanXL (@RLinnehanXl) January 11, 2022
Revenue Only Expected To Go Up In Maryland
Chesapeake Beach has a few motives in expanding taxing when it comes to sports betting in Maryland. For one, they have been against the idea since its infancy. The town tried to keep it out of their “wholesome town” as it has been put many times. Most states have towns like this. Every Chesapeake Beach has an Ocean Grove, like in New Jersey, for example.
That being said, revenue is only expected to keep going up in Maryland. With that $500,000 brought in as far as tax revenue on $16.5 million, this is only the beginning. Most forget that Maryland has not entered the mobile sports betting market. This is based on retail revenue only. Expect the mobile sports entrance to come sometime in 2022. It could be sooner rather than later as well.
Also, keep in mind that the $16.5 million handle only represents a partial month with just five retail betting outlets open. The coming months expect more options to come. The goal of a town like Chesapeake Beach is to find a way to cash in. It is also to keep the town buffered away or compensated for this sports gambling. Mayor Patrick Mahoney noted the following:
“Although not approved by the town, the town is burdened by the expanded gaming activity and therefore should receive tax revenue to offset the burden these activities place on our residential community”.
Most towns do not agree with Chesapeake Beach’s stance on sports betting and taxing. However, one has to respect their persistence. With revenue expected to go up exponentially in 2022, Mahoney and the town council simply are working for the constituents. That has to be commended.
The Chesapeake Beach Hearing And The Meaning
It is important to express that this Chesapeake Beach hearing is happening on January 20th. Now, the meaning is still significant. What the town is trying to do is establish an Admission and Amusement Tax. This would include taxing all sports betting licenses in the state and account for the eventual expansion into the online betting market. The gambling rate is important to consider here. This proposed measure (Ordinance O21-7) would allow the town to collect monies at the same rate.
Maryland residents and tourists cannot be happy with this news. The majority of them embrace sports betting whether it be for the inevitability or are active bettors themselves. Also, this is a public hearing which means anyone can attend. It does not matter if they are from the town or their position in the matter.
The vision of seeing masses of gamblers in their small town concerns the town greatly. While this is not Las Vegas, crowds of tourists spending dollars like this troubles the council.. Obviously, Maryland is not one of the biggest states in the United States but do represent a noticeable amount of money when it comes to tourism revenue. There are so many great spots to visit and Chesapeake Beach is undoubtedly one of them.
And things are only going to get more interesting for this town in Maryland. Lawsuits are not an option at this time and do not expect to be. While there’s growing inevitability that mobile sports betting in Maryland is near, people are going to have to wait and see how things shape out. Towns like Chesapeake Beach will only double down in terms of creativity. Expect them to find ways to keep trying to cash in on Maryland’s sports betting ventures.
Some Other Sports Betting Maryland News
Again, the inevitable question is being asked. When will online sports betting start taking place in Maryland? There are plenty of NFL Betting sites that want in on the action. However, Maryland will not have this option available for its residents by the Super Bowl. That had been a benchmark, Maryland betting advocates had targeted.
Those who wager money will have to be patient. The new “goal” is for Maryland to see online sports betting by the start of the 2022 NFL season. In the meantime, with the expected expansion of retail betting sites, it will not be all bad for residents and tourists alike.