Maryland Saying Goodbye to BetFred in July, Saying Hello to Two New Operators

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 SportsBetFred will be ceasing online sports betting in the Old Line State on July 31BetFred’s retail sports betting operations will end on June 30The 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.