Crab Sports has received a license to operate an online sportsbook in Maryland. The brand must now pass a final step of conducting a controlled demonstration of its product. After that, the small, privately-held company can begin accepting bets on its app.
Crab Sports is the type of sportsbook Maryland regulators were eager to attract. The sportsbook says it’s 50% owned by people who identify as women or minorities. It will also serve Maryland exclusively.
Crab Sports closes in on launching Maryland sports betting app
Once live, Crab Sports will join the eight current online sportsbooks in Maryland. The state’s Sports Wagering Application Review Commission (SWARC) awarded an online license to Crab Sports and SuperBook Sports at its Feb. 15 meeting.
During the meeting, SWARC Chairman Tom Brandt said the commission has begun reviewing applications from smaller sportsbooks now that the major brands have been approved.
“This is the first of the relatively small, mobile sports wagering license applicants.”
Though a youngster in the sportsbook world (founded in 2021), Crab Sports has high expectations. The brand estimates that its online platform, run by Gaming Innovation Group, will surpass $200 million in revenue during the first year.
Unique Maryland gaming regulations helps local companies compete
Maryland’s law legalizing mobile sports betting contains a unique aspect. Not only does it urge smaller, local companies to apply for sportsbook licenses, but it also creates a market they can thrive in. Additionally, Maryland specifically encourages involvement from women and minority-owned businesses.
That is exactly where Crab Sports fits in, according to a recent tweet from the company:
“We will be Maryland’s #1 local sportsbook and will be dedicated entirely to the state of Maryland. From the Caps to the Ravens to local crab cakes, we live and breathe Maryland life. Our team will be run by Maryland people through and through. No outsourced teams or teams in faraway lands. Just local Maryland folk. We are run by experienced founders and backed by Maryland people. We are creating a competitive, unique sportsbook that you can trust.”
Crab Sports plans to hire primarily from the Maryland community to create more local jobs. The company emphasized its focus on the local market, going so far as to ensure that its proceeds from sports betting remain within the local community.