Maryland Welcomes Betr with License

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: July 12, 2024

Betr, a microbetting platform based in the US, has been tentatively accepted to operate within the confines of Maryland. One step of the process was finalized on June 26 when Maryland’s Sports Wagering Application Review Commission, known as SWARC, granted the company an initial license to operate.

Before this meeting occurred, Maryland’s lottery commission also accepted Betr in a decision made back in May. However, in the case of Maryland’s gaming laws, the lottery commission cannot make this decision on its own. It must be SWARC that grants a license for betting operations to legally begin.

Betr Hopeful About Maryland Launch

The process is not over, however. Betr will also have to demonstrate its platform via a controlled test before it can fully launch its operations within the Old Line State.

Those behind Betr hope that the company will find a home in Maryland. This will be the third or fourth state Betr is operational in, as it has also been granted a temporary license from the state of Indiana but not officially begun operations there yet.

Betr is also active in Ohio and Virginia, but recently left its operations in Massachusetts. BetFred is coincidentally just leaving its operations in Maryland. Though Betr is relatively small, it has also been able to rise above its competition to gain attention in various betting markets.

Competition in Maryland Market

Betr will also have to compete in Maryland. The digital betting platform Veterans Services Corporation has launched in the state as of July 1. This British company has worked within the US to a small degree, but its experience has mostly been based abroad until now, so it is yet to be seen how successful this next push will be for the company.

Betr will also have more betting competition in Maryland from Bally Bet, a widely recognized casino and betting brand. Bally Bet received its license two years ago but only just started operations in Maryland, as well as in Massachusetts. For the state of Massachusetts, this means bettors will have their pick of seven different active platforms to choose from.

In Maryland, the number of active sites is up to 15, with FanDuel and DraftKings at the forefront in terms of popularity among users. As per Maryland’s regulation guidelines, approved platforms must have a connection to a land-based casino, racetrack or sports team.

Maryland has a very ambitious sports betting legislation, allowing for up to 60 digital betting platforms in the state. Though, this number is unlikely to be reached in the near future given the stringent process for accepting new platforms.

Betr’s Famous Co-Founders

Betr has stood out from the pack likely due to its famous co-owner, Jake Paul, who rose to fame as a controversial YouTuber and has also gone into boxing. Paul is the face of the brand alongside Joey Levy, who co-founded Simplebet.

Back in March 2024, Betr shared that it had received $15 million in “strategic equity financing.” The company was valued at $375 million as a part of the deal. It also meant that Betr had successfully raised $100 million in funding overall.