The Maryland Senate has passed legislation to ban sweepstakes casinos with the intent of curbing illegal gaming and capturing lost state revenue. The bill, SB860, prohibits companies from using dual-currency systems enabling players to exchange currency for prizes. State Senator Ron Watson believes this ban could lay the groundwork for a legitimate online gambling industry and address Maryland's significant budget shortfall. Despite previous setbacks, the urgency of fiscal challenges positions regulated online gaming as a viable solution for generating tax revenue.
The intent of this bill is to acknowledge and put a halt to the amount of illegal gaming going on, and the uncaptured state revenue that is missed by not regulating and supporting legal iGaming. iGaming is definitely 'on the table' and as Maryland's fiscal challenges become more severe, this is now being considered as a potential option.
The upper chamber passed SB860, which would bar sweepstakes casino gaming within the jurisdiction. The bill prohibits any company from using a dual-currency system of payment allowing the player to exchange the currency for any prize or award or cash or cash equivalents, or any chance to win any prize or award.
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