Betfred to Exit Maryland’s Sports Betting Market by July 31

New Operators Set to Enter the Market

Betfred initially entered the Maryland market through a partnership with the off-track betting parlor Long Shot’s in 2022 and went live after receiving an online and retail wagering license from the MLGC.

While Betfred’s exit marks a significant change, Maryland is poised to welcome three new operators to its sports betting landscape:

Veterans Services Corporation: Scheduled to debut on July 1, Veterans Services Corporation completed a controlled demonstration of its operations last month and is ready to enter the market.

Bally Bet: This operator is expected to launch in Maryland next month, adding to the state’s growing roster of sports betting options.

Betr: A micro-betting brand, Betr received initial approval for a wagering license from the MLGC last month and is awaiting final approval from the Sports Wagering Application Review Commission.

Impact on Maryland’s Sports Betting Market

Betfred’s departure marks the end of a short-lived presence in the Old Line State, where it had been operational for just over a year. Despite this, the introduction of new operators is anticipated to maintain, if not boost, the competitive landscape of Maryland’s sports betting market.

The entry of Veterans Services Corporation, Bally Bet, and Betr suggests continued growth and diversification in the state’s sports betting offerings.