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The 12th sports betting app to be available in Maryland was launched recently by Veterans Services Corporation (VSC). LetsBetMD is the name of the VSC app, which is powered by platform provider Bee-Fee Limited. Bettors may access the operator’s website and mobile betting app, and new users can take advantage of a welcome bonus. If a player with a minimum deposit of $10 loses their first wager (with maximum odds of +600), they can get up to $200 back in credit. It’s interesting to note that despite not actually being a First Bet Offer, the campaign refers to itself as a “bonus bet.” Major bookmakers like DraftKings and FanDuel no longer use that kind of wording, and in some jurisdictions like Massachusetts, it is illegal to use the word “free” in marketing materials to refer to promotions that aren’t really free.
Reduced juice betting is one of the best ways for any sports bettor to save money, and far too many people don’t take advantage of it. If you are not playing at a sportsbook that offers reduced juice betting, then you are simply giving away money. Check out the latest sports betting odds at BetMGM.
During a period of major activity, LetsBetMD formally joins Maryland’s sports betting industry. While Bally Bet (July) and Betr (unknown start date) both want to arrive in Maryland soon, Betfred intends to exit the state’s online sports betting industry by the end of July. Since the state’s smaller companies and late entrants have had difficulty capturing market share, the new entrants will undoubtedly have their job cut out for them. DraftKings and FanDuel have dominated the state’s online sports betting sector; they were the only two operators to surpass $100 million in handle in May.
The Maryland Sports Wagering Application Review Commission granted Betr a license to operate an online sports betting business, bringing the betting app one step closer to its official Maryland launch. Before going live in the state, Betr must still complete a controlled demonstration with the Maryland Lottery. Founded by Jake Paul and Joey Levy, the sports betting app is presently available in Virginia and Ohio. Although Betr operated in Massachusetts, it departed the market for financial reasons.
As Betfred prepares to leave the Maryland market, Betr will enter it. Betfred will leave Maryland’s sports betting industry by the end of July, according to a statement made last week. In May, the operator brought in less than $1 million in wagers but was unable to secure a sizable portion of the Maryland market.
It will be difficult for Betr and other newcomers to succeed in a state where FanDuel and DraftKings are the dominant players. In May, FanDuel ($195.2 million) and DraftKings ($137.4 million) both disclosed having a mobile handle at over $135 million. No other book had a mobile handle over $35 million. Online handles for Betfred, betPARX, Crab Sports, and SuperBook Sports were all less than $1 million.
Although it is anticipated that if it reaches Maryland, Betr’s live betting product would rank near the bottom of operators in terms of market share, the company still intends to attract Maryland bettors with it. Check out the latest sports betting odds at BetMGM.
