A new sports betting app is available in Maryland.
Veterans Services Corporation debuted its Maryland sportsbook on July 1, with odds available on several popular sports.
LetsBetMD is powered by the Bee-Fee Limited platform and joins a highly competitive Maryland sports betting market. With its launch, Maryland bettors now have 12 online sportsbooks.
VSC had a partnership with Intralot in DC
The Washington Post reported in 2019 that Veterans Services Corp. (VSC) was little more than an accounting trick to satisfy Washington D.C. requirements that gaming vendors hire locally owned companies.
According to the Post, at that time, VSC had no employees, and its listed founder, a Maryland man named Emmanuel Bailey, was paid by another company. When DC launched sports betting, Intralot, the company that won the contract to provide the infrastructure and other services for the market, downplayed its subcontractor association with VSC.
A glance at the web-based LetsBetMD on July 1 showed odds for MLB games, upcoming WNBA games, and tennis matches. However, there were scant odds for futures bets, and the parlay offerings were slim.
Maryland’s landscape readying for change
Maryland now has a dozen online sportsbooks, but that will soon change.
Betfred will close its Maryland app later this month and choose to concentrate on other markets. It’s anticipated that both Bally Bet and Betr will debut their mobile sportsbooks in Maryland over the next several weeks. Betr recently received full license approval.
Betr will expand into other markets shortly after leaving Massachusetts. The Jake Paul-owned company left Massachusetts in February. Then, it announced plans to launch in Pennsylvania, Colorado, Kentucky and Maryland. Since it hasn’t launched in any of those four states, Maryland could be its first launch of the planned expansion.
Sportsbooks in Maryland are taxed at 15% of adjusted gross revenue. Since launching online sports betting in 2022, the state has seen $2.8 billion in total handle, and in excess of $23 million in tax revenue, through May. FanDuel Sportsbook Maryland and DraftKings Maryland have accounted for $2.3 billion of total sports betting handle.
