Sports Wagering - Wagers on Historical Horse Races - Authorization

HB 1240 would update Maryland law to allow licensed sports wagering facilities to accept bets on historical horse races (races that have already occurred). The bill amends the definition of "sporting event" to include historical horse races and sets specific rules for accepting such wagers. It requires that proceeds from these wagers be distributed according to existing law and mandates that the bill be submitted to a statewide voter referendum. This change directly affects licensed sports wagering operators and their ability to offer a new type of bet, while maintaining existing regulatory frameworks.