Betfred is Opening a Retail Sportsbook in Maryland
Gamblers in Maryland have been able to bet on sports since December of 2021 with 5 sportsbooks in operation. At the moment, only in-person betting is legal. However, industry analysts expect to see online bookie software and platforms available by the end of 2022. Sports betting Maryland has a large market base and plenty of room to grow. Following that trend, Betfred is Opening a Retail Sportsbook in Maryland by partnering with Long Shot’s of Frederick, Maryland.
Long Shot’s is an OTB betting parlor that allows viewing and betting on races from all over the world. Under the term of the deal, the first location will launch in time for the football season. However, a permanent location will be ready to take bets just after the first of next year.
Long Shot’s CEO, Alyse Cohen is very happy with the Betfred partnership. In a statement, he said they are “thrilled to open a sportsbook at Long Shot’s in partnership with Betfred Sports”. As a premier off-track betting location in Maryland, they “look forward to achieving similar success with sports wagering.
The betting market in Maryland is in its first year of operation and will reach a mature level by 2024. According to industry analyst, by then, Sports betting operators could have a handle $3.1 billion sports betting handle. For Maryland, it means receiving a sports betting revenue of $125 million to $225 million.
According to sportsbook marketing data, Betfred entering the Maryland sports wagering market will help them reach their target revenue faster,
Betfred is Opening a Retail Sportsbook in Maryland ahead of the NFL Season
Per the details of the deal, Betfred will open a temporary retail sportsbook next to the Maryland Jockey Club’s OTB. The temporary sportsbook will consist of in-person betting windows and self-service kiosks. Long Shot’s and Betfred plan on having the location open in time for the 2022 NFL season.
Of course, this is just the first stage for the Betfred Longshot partnership. Their ultimate goal is to have their 8,800 square foot sportsbook ready for next year. According to Bookie blogs, the sportsbook will feature a video wall and “theatre-style seating,” plus a food and drinks menu.
Bryan Bennett, Betfred Sports Chief Operating Officer said this is “a formidable partnership to compete in the Maryland sports betting space”. When Betfred first began searching for a partner, Longshot’s was at the top of the list of potential partners.
Betfred Sports currently holds a license in Iowa, Pennsylvania, Colorado, Louisiana, and Arizona, with Nevada and Washington. At the moment, they are just waiting to receive regulatory approval to enter the Maryland sports betting market.