Betfred Announces Departure from Maryland Sports Betting Market

Published: Jun 25, 2024, 10:50 AM
3 min read
Updated: Jul 8, 2025, 7:18 AM

Betfred Announces Quick Departure from Maryland Sports Betting Market

End of an Era for Betfred in Maryland

Betfred has officially announced its upcoming departure from the Maryland sports betting market, with plans to shut down its in-person sportsbook at Long Shot’s in Frederick, MD, on June 30. The Betfred sports betting app will follow, ceasing operations on July 31. This decision was confirmed during a recent Maryland Lottery and Gaming Control Commission meeting, marking a significant shift in the state's sports betting landscape.

A closed Betfred betting shop

A closed Betfred betting shop (Photo by Catherine Ivill/Getty Images)

Betfred’s Journey in Maryland

Since its launch in Maryland in November 2022, Betfred has accepted $20.1 million in bets, generating $1.48 million in revenue. This accounts for less than 0.5% of the market share, a stark contrast to the dominating presence of leaders like FanDuel, which processed $195.2 million in online bets in the last month alone. FanDuel generated $11.7 billion in group revenue in FY2023, a 24.9% increase year-over-year. 

New Sportsbooks Ready to Stake Their Claim

As Betfred exits, the Maryland market is set to welcome new players. Veterans Services Corporation (VSC) will start operations as a mobile-only betting service on July 1, having showcased a successful product demonstration in May, 2024. Details about this new entrant can be followed on Maryland's Gaming Commission’s updates.

Bally Bet is also on the brink of launching its services in Maryland, with plans to go live next month. The precise launch date is yet to be confirmed, mirroring their upcoming Massachusetts launch, outlined in the latest commission report.

Additionally, Betr, a microbetting platform, awaits final approval to enter the Maryland market, having applied for a sports betting license earlier in the year.

Betfred’s Still Operating in Other States

Despite withdrawing from Maryland, Betfred continues to maintain a presence in nine other U.S. states. In regions where detailed data is available—such as Arizona, Iowa, and Ohio—Betfred’s market performance closely mirrors its Maryland experience. In these states, Betfred’s lifetime revenue totals $4.48 million from $166 million in bets. Notably, in Ohio, Betfred has partnered with the NFL’s Cincinnati Bengals, generating $1.91 million in revenue and issuing $2.65 million in free bets

Editor-in-Chief

Sol Fayerman-Hansen is Editor-in-Chief at RG.org with 20+ years of experience in sports journalism, gambling regulation, and tech. His work has appeared in Forbes, ESPN, and NFL.com, covering U.S. and Canadian gambling laws, major sports events, and wagering trends. Since 2023, Sol has led RG.org’s global editorial efforts, focusing on transparency, data accuracy, and regulatory insight. He works closely with researchers and legal experts to uphold E-E-A-T and Trust Project standards.

📍 Israel/Canada 🌐 English, Hebrew 🎯 Gambling law, responsible gaming, tech in betting

Interests:
NFL
CFL
NBA
MLB
NHL
ATP
UEFA
NCAA Baseball
PGA
Wimbledon
UFC

More RG News

Soccer
07/11/2025
Zach Lowy
Zach Lowy
Inside The Tactics: Key Findings From The FIFA Club World Cup

Get the inside scoop on the tactics that have defined the FIFA Club World Cup from a technical study discussed by the likes of Arsene Wenger, Roberto Martinez, and Jurgen Klinsmann.

Inside The Tactics: Key Findings From The FIFA Club World Cup
Soccer
07/11/2025
Zach Lowy
Zach Lowy
João Pedro’s Dream Start Leads Chelsea To Club World Cup Final

RG spoke to Enzo Maresca, Felipe Melo, and Joao Pedro himself about what the Brazilian can bring to the Chelsea attack after his brace in the CWC semifinals.

 João Pedro’s Dream Start Leads Chelsea To Club World Cup Final
Soccer
07/08/2025
Quinn Allen
Quinn Allen
PSG vs Real Madrid Match Preview: Can Los Blancos Take Down UCL Holders?

Champions League winners PSG and Real Madrid will lock horns in the FIFA Club World Cup semifinals on Tuesday in what should be a thrilling affair.

PSG vs Real Madrid Match Preview: Can Los Blancos Take Down UCL Holders?
Soccer
07/08/2025
Zach Lowy
Zach Lowy
Real Madrid Stars Shine In Dramatic Club World Cup Win vs Dortmund

RG spoke to Gonzalo Garcia and Fran Garcia about Real Madrid’s impressive start to the Xabi Alonso era and their Club World Cup ambitions.

Real Madrid Stars Shine In Dramatic Club World Cup Win vs Dortmund

Our Authors

Paruyr Shahbazyan

Paruyr Shahbazyan started his business career as an entrepreneur in 2000. Over 13 years, he learned business and leadership, which laid the foundation for his career.

In 2013, Paruyr entered the sports and betting industry as the founder and president of Bookmaker Rating, an online media platform he led until 2020. The platform focuses on in-depth analysis and insights in sports betting and has gained a reputation for quality content.

In 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This shows his commitment to technology in the sports betting space. Through all these experiences, Paruyr has been shaping and influencing the betting industry, setting new trends and standards.

Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports.

Strategic Vision

Paruyr's vision is to revolutionize the sports entertainment industry by integrating technology. He sees the future of sports entertainment as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. He aims to create platforms that are not only user-friendly but also uphold the highest standards of ethical reporting, contributing to a more responsible and enjoyable sports culture.

Meet All Our Experts
This website uses cookies to ensure you get the best experience on our website. Read our
Privacy Policy
.