Betfred is leaving Maryland's sports betting market, it was shared at Thursday's Maryland Lottery meeting. While one online operator is leaving the state, two new operators (VSC and Bally Bet) are expected to soon enter the state's digital sports betting marketplace.
Betfred had been partnered with Long Shot's in Frederick, but both the retail and online sportsbooks will cease operations by the end of July. The retail sportsbook will close on June 30, with the online sportsbook closing on July 31.
The mobile sports betting app struggled to gain meaningful traction in Maryland, recording a May handle below $500,000. For comparison, FanDuel accepted $195.2 million worth of online bets in Maryland last month.
New Entrants
While Betfred plans to leave Maryland, Veterans Services Corporation (VSC) plans to enter into the market on July 1. VSC, which is operated through Bee-Fee Limited, went through a controlled demonstration with the lottery on May 24. It plans to begin accepting wagers statewide at the start of next month.