Maryland's Senate Bill 340, introduced on January 16, 2025, is set to reshape the landscape of internet gaming in the state, focusing on security, age verification, and responsible advertising practices. The bill aims to establish a robust regulatory framework that ensures only individuals aged 21 and over can participate in online gaming, while also mandating that all gaming data be securely maintained for a minimum of five years.

Key provisions of the bill include strict age verification processes for users when they create gaming accounts, as well as periodic re-verification to prevent underage access. Additionally, the legislation prohibits the sharing of personally identifiable information without consent, except for operational necessities and support for problem gambling initiatives. Notably, it also bans targeted advertising to individuals who are prohibited from gambling, addressing concerns about vulnerable populations.

The bill has sparked discussions among lawmakers and stakeholders, particularly regarding its implications for minority business participation in the gaming industry. It incorporates findings from the state's Minority Business Enterprise Program, requiring internet gaming licensees to establish participation goals for minority-owned businesses within six months of receiving their licenses. This aspect of the bill aims to promote inclusivity and economic opportunity in a rapidly growing sector.

As Maryland moves forward with this legislation, experts anticipate significant economic implications, including potential revenue growth from regulated online gaming and increased support for responsible gambling initiatives. However, the bill's success will depend on effective implementation and ongoing oversight to ensure compliance with its provisions.

In conclusion, Senate Bill 340 represents a pivotal step in Maryland's approach to internet gaming, balancing the need for regulation with opportunities for minority businesses, while prioritizing the safety and security of participants. The coming months will reveal how this legislation shapes the state's gaming landscape and its broader economic impact.