Maryland has recently launched a regulated iGaming market. The news came earlier in the year, and sports betting online was officially launched on November 23, 2022. According to websites designed for tracking geolocation, during Thanksgiving, over 5 million transactions took place in Maryland. And now, a week later, the iGaming market in the state has hit 16 million geolocation transactions. So, needless to say, the launching of the industry is a success.
What is iGaming?
Before we delve deeper into this matter, it is important to define exactly what we mean by iGaming. At this point, most of you probably know what is encompassed by the phrase. However, just in case there are any among you who are unaware, iGaming refers to the various forms of online gambling. Anything from slots to sports betting belongs under the umbrella of iGaming, so long as it is online.
Now, the question some might have is: Why would you want to bet online? And the answer is simple and three-fold. Online casinos are easy to use, easy to access, and easy to play with. If we take a look at the top gambling sites, we will notice that they are all wonderfully designed. They are easy to navigate, with all of the games and sports clearly labeled. They all feature a number of bonuses that make the game much more exciting. And they are always just a click away. So, the real question is, why wouldn’t you want to bet or gamble online?
Now that we have informed everyone what iGaming is, we can delve deeper into Maryland’s (and by extension the general) benefit from legalizing iGaming. At the end of the article, we are also going to assuage some fears that people might have about iGaming, so stick around if you have your reservations about the practice.
The Benefits from Legal iGaming
As we said, a week ago Maryland officially launched their iGaming market. And so far, websites have recorder 16 million geolocation transactions. Truly, an impressive number, considering it has only been a week. But the question many are asking is this: Why even legalize iGaming? Well, in this section we hope to enlighten you on some of the reasons why a state, or country, might want to legalize gambling and betting online. So, here are the benefits of having a legal and vibrant iGaming industry.
For one, it makes gambling a lot safer. The simple truth of the matter is that people will gamble whether they are allowed to or not. And if they are forced to look for illegal avenues, they are putting themselves in danger. Worse yet, illegal gambling sites and establishments don’t care to ensure that players are of-age or capable of betting/gambling. So, providing a legal avenue for placing bets ensures the safety of everyone involved.
The secondary reason is that iGaming is a growing industry. For example, according to Maryland statesmen, the state’s education fund will receive a massive growth, thanks entirely to the sports betting industry. Many policymakers have also cited mobile betting as the most important part of the state’s revenue stream. In other words, the legalization of iGaming does wonders for the growth of the local economy.
So, basically, by legalizing iGaming, Maryland has not only ensured the safety and security of the state’s gamblers and bettors, but they have also contributed to the local economy. Thanks to this move, Maryland schools might be better equipped, the roads might be safer, and other public establishments will certainly see a boost as well.
Maryland’s Views on the Legalization
As with any political decision, the public is not of the same mind. However, considering the fact that 16 million transactions took place in the first week alone, we can assume that many of the state’s inhabitants are quite satisfied with the move.
For their part, state representatives like Governor Hogan are quite proud of themselves. Mr. Hogan recently called for a launch of mobile betting websites, during which he talked about the wonders that the legalization will do for the state of Maryland.
And he wasn’t alone. GeoComply’s SVP, Lindsay Slader also threw her hat into the mix. She announced that Marylanders will no longer need to use illegal and unreliable offshore websites. They can now remain safe and within the bounds of the law. On top of it all, through engaging in a hobby they love, Marylanders will actually contribute to the state’s economy, improving the lifestyle of their fellow peers.
Still, despite the benefits many remain distrustful of online gambling and sports betting. Certainly, they have their reasons. However, we would still like to assuage some of these fears, by mentioning and debunking some myths regarding the iGaming industry.
iGaming Myths: Debunked!
Many believe that iGaming is not safe. And this fear is understandable, considering the early websites were not all that trustworthy. However, the industry has come a long way since the 90s. If you play on legal, licensed websites, this is simply untrue. For those who don’t know, gambling commissions review and license online casinos, just as they do land-based establishments. So, if your website is licensed and legal, you will have no problems regarding safety and security.
Others believe that sports betting and gambling online is far more addictive. And again, this doesn’t seem to be the case. Unlike land-based establishments, online casinos and sports betting websites monitor your activity. And most of the safe and legal websites will actually limit your spending if they believe you are going overboard. From that perspective, iGaming is less addictive than land-based establishments.
And finally, many believe that online casinos allow underage players. This one is just patently untrue. Like any casino, online gambling sites demand to see their players’ identification before they can make an account. On top of that, credit cards are the most prominent way to gamble online. So, it is much more difficult for them to make an account with an online casino, than it is for them to sneak through security in a brick-and-mortar establishment.
