Bally’s Interactive and WynnBet to enter Maryland sports betting market

The firms have received preliminary approval from the Maryland Lottery and Gaming Control Commission (MLGCC).

US.- Bally’s Interactive and WynnBet’s mobile sportsbooks are set to enter Maryland’s regulated online sports betting market. They’ve received preliminary approval from the Maryland Lottery and Gaming Control Commission (MLGCC).

The Sports Wagering Application Review Commission will meet to consider the licensing approval on December 14.

Seven operators launched in Maryland on November 23 when online sports betting went live. Three more operators are expected to receive final approval in the coming days.

Governor Larry Hogan estimated that the state could see $30m in revenue in 2023 and almost $100m by 2027. At a press conference announcing the opening of the market, Hogan said the state and its schools will benefit.

From the market’s November 23 launch to November 27, the geolocation data firm GeoComply recorded 16.5m mobile sports betting geolocation transactions. It reported 477,365 unique accounts registered and 3.7m geolocation transfers on Thanksgiving Day, the second day of full, legal mobile wagering in the state.

GeoComply senior vice president of Compliance Lindsay Slader said: “A strong start for the regulated market delivers on the promise of new revenues and consumer protections. Marylanders will continue to ditch illegal offshore sportsbooks for the security of legal, regulated operators that provide player safeguards and tax dollars for the state, just as lawmakers intended.”

Maryland retail sports betting handle sets new record in October

Maryland’s seven sportsbooks registered a sports betting handle of $39.7m in October, a 26.4 per cent increase compared to September’s $31.4m, and a new monthly record. The October handle minus prizes left Maryland sportsbooks with a hold of $5.3m, or 13.4 per cent of wagers. Minus promotional play and other amounts, the taxable win was $5.2m.