{"id":1585827,"date":"2024-06-25T09:45:22","date_gmt":"2024-06-25T13:45:22","guid":{"rendered":"https:\/\/sports7.us\/?p=1585827"},"modified":"2024-06-25T09:45:22","modified_gmt":"2024-06-25T13:45:22","slug":"betfred-to-exit-maryland-sports-betting-market-in-july","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/betfred-to-exit-maryland-sports-betting-market-in-july\/","title":{"rendered":"Betfred to Exit Maryland Sports Betting Market In July"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Betfred will exit the Maryland sports betting market in the coming weeks, while two other sportsbooks plan to enter the Old Line State. Betfred will close its retail sportsbook at Long Shot\u2019s in Fredrick, Maryland, on June 30. The <a href=\"https:\/\/sports7.us\/betting-sites\/\">sports betting app<\/a> will shut down on July 31.<\/span><\/p>\n<h2>Betfred has accepted $20.1 million in wagers, produced $1.48 million in revenue since launching in Maryland<\/h2>\n<p><span style=\"font-weight: 400\">The announcement was made Thursday during a Maryland Lottery and Gaming Control Commission meeting. In May, Betfred ranked 10th in usage among the state\u2019s 12 sports betting apps, handling less than $500,000 for the month.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Since launching in November 2022, Betfred has accepted only $20.1 million in bets and generated just $1.48 million in revenue. Both totals account for less than 0.5% of market share.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In comparison, market-leading FanDuel accepted $195.2 million in online bets last month. Since November 2022, FanDuel has cleared $478.8 million in revenue from $3.45 billion in handle.<\/span><\/p>\n<p>Betfred\u2019s exit isn't surprising for Maryland Lottery and Gaming Director John Martin.<\/p>\n<p>\u201cThis is not the first time this has happened in Maryland, and I do not think it is going to be the last time,&#8221; Martin said. &#8220;The [Betfred] retail operations will close on June 30. The mobile operations are closed on the 31st of July. So, they will be proceeding on a new relationship, the folks at Long Shot\u2019s.\u201d<\/p>\n<p>Furthermore, in Ohio where it is partnered with the NFL\u2019s Cincinnati Bengals, Betfred has produced $1.91 million in revenue while giving patrons $2.65 million in free bets from promotions.<\/p>\n<h2>Operator is still available in six states<\/h2>\n<p>Betfred is available in six states: Arizona, Colorado, Iowa, Ohio, Pennsylvania, and Virginia. In Pennsylvania, the sportsbook operates as Wind Creek Casino.<\/p>\n<p><span style=\"font-weight: 400\">Two other licensed operators are slated to enter the Maryland sports betting market. Veterans Services Corporation (VSC) will start taking bets on July 1. VSC will be a mobile-only licensee with operating partner Bee-Fee.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, Bally Bet is scheduled to go live online in Maryland next month, and the sportsbook is also preparing to launch its Massachusetts sports betting app next week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Microbetting platform Betr is awaiting final approval to enter the Maryland market after applying for a sports betting license earlier this year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Betfred will exit the Maryland sports betting market in the coming weeks, while two other sportsbooks plan to enter the Old Line State. Betfred will close its retail sportsbook at Long Shot\u2019s in Fredrick, Maryland, on June 30. The sports betting app will shut down on July 31. Betfred has accepted $20.1 million in wagers, [&hellip;]<\/p>\n","protected":false},"author":305,"featured_media":1585835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316],"tags":[447423,447424,447426],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Betfred to Exit Maryland Sports Betting Market In July<\/title>\n<meta name=\"description\" content=\"Betfred will exit the Maryland sports betting market in the coming weeks, while two other sportsbooks plan to enter the Old Line State.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sports7.us\/news\/betfred-to-exit-maryland-sports-betting-market-in-july\/\" \/>\n<meta property=\"og:locale\" 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