LetsBetMD goes live in Maryland
3rd July 2024 9:07 am GMT
The Maryland Lottery and Gaming Control Commission has cleared Veterans Services Corporation (VSC) to launch online sports betting.
The approval issued to VSC and its UK-based platform partner Bee-Fee follows the successful completion of a controlled demonstration of the wagering systems that power the partners’ LetsBetMD brand.
VSC and Bee-Fee were found suitable for licensure in Maryland in March 2023.
Under the terms of their partnership, which aims to pursue lottery and gaming opportunities globally, Bee-Fee will supply and license its online sports betting platform to VSC, and provide managed services, support and maintenance to the company.
With the July 1 launch of LetsBetMD, there are now 12 mobile sportsbooks and 12 retail betting facilities in Maryland.
Maryland’s regulated sports betting market generated total handle of $431.5 million in May 2024, a rise of 35 per cent year-on-year.
The market is dominated by FanDuel and DraftKings, who together accounted for 78 per cent of total sports betting handle in May.
