With its launch in Maryland this week, Bally Bet Sportsbook is now live in nine states.
Maryland gaming regulators gave preliminary approval to the online sports betting operator nearly two years ago. Last week, Bally Bet successfully completed the last requirement to gain a license: a live demonstration.
After two sportsbooks exited in the last few months, Bally Bet is now the 12th Maryland sports betting app available to bettors in the Old Line State.
Bally Bet joins market dominated by 2 titans
Currently, the market is dominated by FanDuel Sportsbook Maryland and DraftKings Maryland. In June, nearly 78% of online sports betting in the state was made through the two sportsbooks.
FanDuel accounted for 43.6% of June’s wagers, while DraftKings had 34.3%.
Bally Bet joins 11 other operators vying for a piece of the remaining 22% of the market.
Betr set to join Maryland market soon
SuperBook Sportsbook and Betfred exited the Maryland online sports betting market earlier this month. However, LetsBetMD from Veterans Service Corporation debuted a couple of weeks ago.
Betr is also looking to enter the Old Line State. It has received preliminary approval from the Maryland State Lottery & Gaming Control Agency but still needs to conduct a live demonstration before it can launch.
The state has 60 sports betting licenses available, but it’s unlikely that the majority of those licenses will ever be awarded to an operator. Aside from Betr’s eventual launch, no sports betting operators are planning on entering the Maryland market.
Bally Bet is now operating in the following US states:
- Arizona
- Colorado
- Indiana
- Iowa
- Maryland
- Massachusetts
- New York
- Ohio
- Virginia
The operator enters the market ahead of the NFL and college football season, which should contribute to an autumn uptick in betting handle after a June slump. Handle was down 20% last month compared to May. However, it was 35.8% higher than the previous June,