Jun 16, 2024; Baltimore, Maryland, USA; Baltimore Orioles shortstop Gunnar Henderson (2) hits a home run against the Philadelphia Phillies during the first inning at Oriole Park at Camden Yards. Mandatory Credit: Gregory Fisher-USA TODAY Sports
- BetFred will be ceasing online sports betting in the Old Line State on July 31
- BetFred’s retail sports betting operations will end on June 30
- The announcement was made at the last Maryland State Lottery and Gaming Control Agency meeting
One online sports betting operator is leaving Maryland, while two are ready to take its place.
BetFred, one of the least used online sports betting operators in the state, will be ceasing retail and online sports betting in Maryland within the next month.
However, as BetFred leaves both Bally’s and Veterans Services Corporation are expected to launch online sports betting in the state in July.
BetFred Never Gained Traction
The news of BetFred leaving the state was included in Managing Director of Gaming Michael Eaton’s monthly report. Partnered with Long Shots, BetFred informed the state it will end its retail sports betting operations on Sunday, June 30, and its online sports betting operations by Wednesday, July 31.
Long Shots, a Maryland off-track betting facility, will now have to find a new sports betting operator partner.
BetFred never gained much traction in Maryland, reported nearly $500,000 in combined online and retail sports betting handle for the month of May. It reported the ninth most sports betting handle in the state out of 12 total operators for the fiscal year.
Only Crab Sports, betParx, and SuperBook has reported less online sports betting handle during the fiscal year than BetFred.
It only contributed a grand total of $42,921 in both online and retail sports betting tax revenue to the state. By comparison, FanDuel has contributed more than $31 million in combined tax revenue to Maryland.
Two New Operators Moving into Maryland
While BetFred is leaving the state in July, Bally’s and Veterans Services Corporation will soon be entering. Included in Eaton’s report was the news that Bally’s hopes to launch its online sports betting services sometime in July.
Veterans Services Corporation, which held its controlled demonstrations for the MLGCA on May 24, hopes to launch in Maryland on July 1. Veterans Services Corporation, which operates through Bee-Fee Limited, reported $80 in online sports betting handle for the demonstration. The company received a sports betting license in April 2023.
Veterans Services Corporation has run the Washington, D.C. Lottery for more than a decade.
Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country.
In a significant development for the gambling industry in Maryland, the state is set to transition from BetFred to two new operators in July. This change comes after the Maryland Lottery and Gaming Control Commission decided not to renew BetFred’s contract, which was set to expire on June 30th.
The decision to part ways with BetFred was based on a variety of factors, including the company’s performance in the state and the desire to bring in new operators to provide a fresh perspective and potentially improve the overall gambling experience for residents and visitors alike.
The two new operators that will be taking over from BetFred are yet to be officially announced, but it is expected that they will bring their own unique offerings and innovations to the Maryland gambling market. This change is part of the state’s ongoing efforts to ensure that its gambling industry remains competitive and continues to attract customers.
While some players may be disappointed to see BetFred go, this transition provides an opportunity for new operators to showcase their capabilities and potentially offer a more diverse range of games and services. It also gives existing players a chance to try something different and see what the new operators have to offer.
Overall, the transition from BetFred to two new operators in July is an exciting development for the gambling industry in Maryland. It will be interesting to see how the new operators fare and what they bring to the table in terms of new games, promotions, and overall customer experience. Stay tuned for more updates as the transition date approaches.
