Sportradar Licensed to Operate in Maryland and Wisconsin
The continuous interest in pushing the legalization of sports betting throughout the U.S. has grown. It is now culminating in some of the most concrete and tangible results. This week, Sportradar announced it would begin operating in the states of Maryland and Wisconsin under specific terms, placing sports wagering as one of their prime offers to local users.
More specifically, the sports betting company confirmed that it had received a green light from Maryland to operate within the boundaries of a Sports Wagering Contractor License. As for Wisconsin, the state government granted the technology company a temporary Gaming-Related Contractor Certificate to function as a legal provider of sports wagering as a service option.
Simultaneous State Approvals Outline a Favorable Landscape
From Virginia’s state-sponsored sports wagering practices under state lottery committees to North Dakota’s sudden realization of a new and quite lucrative tax revenue source, the gaming landscape for states is gradually welcoming sports wagering.
Both Maryland’s and Wisconsin’s state bodies worked independently on the case for Sportradar, yet both decisions arrived at around the same time. More states favor the gradual acceptance and adoption of sports wagering as a new business alternative within the gaming industry.
Sportradar was not either of the states’ first license approval. Maryland allowed for the beginning of sports wagering back on December 9. As for Wisconsin, the Oneida Nation was granted the first license to operate on November 30. This marked the beginning of a potential gaming industry expansion for both states.
Resilience Continues to Outweigh Opposition
Early this week, Chicago announced the move for an ordinance to open stadiums around the city and allow for the practice of sports wagering within their physical locations. Yet, some degree of resistance has been perceived by sport franchise owners as independent opposers display their interests to protect the centralization of gambling dynamics under traditional business institutions such as casinos.
Florida is hanging on a similar thread, with the Seminole Tribe of Florida speaking openly against the proposal to open sports wagering as a statewide digital offer. Casino interests are not being considered by major sportsbooks and technology companies who have heavily invested in developing highly sophisticated platforms and solutions to enhance users’ overall service offer.
Therefore, it makes sense as to why in the eyes of some big players in the gaming industry. Casinos are more of a traditional way to enjoy games yet not edgy enough to drive and generate the level of business volume that today’s innovative platforms can.
With multiple opportunities to generate hundreds of millions in revenue tax by each state, all chips are falling on the side of legalizing sports wagering. Sportradar CEO Arne Rees stated that with his company now being able to operate under a total of 26 licenses across the U.S., it’s just a matter of time before more competitors start infiltrating the states’ gaming industries.
According to Rees, state governments should watch potential gains and consider how millions of dollars could be reinvested in local state interests.