The Maryland House has approved an online casino bill, but time is running out for full approval
Just two days before the crossover deadline, the Maryland House of Representatives voted 92-43 on Saturday to pass legislation that would send the question about legalizing online casino gaming to the ballot in November.
The bill now moves to the Senate, which has less than a month to approve it before the general assembly adjourns on April 8. House leadership revealed a $1.3 billion budget plan on March 15 that would use tax revenue from iGaming to fund future costs of education and transportation, according to the Associated Press.
The Maryland online casino bill saw various changes as it advanced through the House. Many of them were considered unfavorable by the industry, which will lobby against them as the legislation makes its way through the Senate.
When HB 1319 reached its third reading on March 16, its sponsor, Rep. Vanessa Atterbeary, amended the bill to increase the number of licenses available and banned using credit cards to fund gambling accounts. Guidelines were also added for diversity, equity and inclusion.
The minimum tax rate under the bill is 55% on electronic games and 20% on live-dealer games. The seven legal states charge tax rates ranging from 18% to 57%.
An initial $1 million fee would be charged to operators for a five-year license, with a renewal fee equal to 1% of the average annual profit for the previous three years. Tax revenue would benefit the Blueprint for Maryland’s Future and send funds to counties that operate retail casinos, horse racetracks and minority, small, and women-owned businesses.
Of the additional five amendments to the bill, the only one passed on March 16 was regarding live dealers and unionization. The failed amendments included requiring in-person account funding, capping individual bets at $5 and limiting bets to $100 in a 24-hour period.
