The NBA season began in October, just in time for Betfred Sportsbook to go live in Maryland. After a long wait, online wagering is finally available. This formal launch is coming over two years after the state voted for sports betting to be legalized.
In December 2021, only in-person sports betting had found its footing. However, their online counterparts didn’t start on time because the state requires diversity in the gambling industry. What can users expect from this sportsbook, and what does the future hold for the budding gambling industry in Maryland?
Delay disrupted the online sportsbook launch
After the launch of retail sportsbooks, the governor was not happy with the slow pace of getting online sportsbooks up and running. Gov. Larry Hogan wanted it to be ready before the NFL season kicked off. Sadly, the delay was inevitable. The governor urged regulators to work faster to make it available.
Online sportsbooks in Maryland are finally launching in time for the NBA season, so there will be a lot to look forward to. While authorities worried about the longer wait, they breathed a sigh of relief when the launch date drew nearer. The entire process marks the culmination of several years of efforts to legalize online sports betting in Maryland.
Outlook of the gambling industry in Maryland
Maryland is not new to sports betting, as mentioned earlier. The state issued licences to eight retail sports in December 2021. Within this time, the operators had received more than $270 million. Also, the state has received over $5 million in taxes from the running sports betting companies.
The industry has great potential. Analysts believe that the full online sports betting market can achieve so much. Its growth is similar to what you would expect in states like Colorado or even Michigan. Other reports claim that sports betting will generate revenues of up to $123 million.
So far, Maryland is an excellent state for online sports betting. It is surrounded by other states that have legal sports betting, and this move was long overdue.
Betfred sportsbook is early to the party
The sportsbook intends to be one of the first to launch in the market. This is significant because it will determine which sportsbook gets the lion’s share of users within the first year. It is going to be fierce competition, with some of the biggest names already preparing to launch.
If Betfred hopes to build a brand in Maryland, the sportsbook must provide unique services and top-notch quality. Also, it needs to include a wide variety of bets and markets to attract more users. Accessibility is another factor that may sway users in their favor. Also, the Betfred Maryland sportsbook bonus help attract more users.
About Betfred sportsbook
Betfred was founded in 1967 in England by Fred Done. The company controls more than 1500 betting shops across the UK. It also has several online casinos in Spain and the United Kingdom. Recently, the company has sought to enter the American market. This has led to its presence in states like Maryland, Colorado, Ohio, Iowa, Nevada, and Louisiana. It entered the market after launching the Grand Falls Casino.