Betr secures online sports betting license in Maryland

Betr, the sports betting app founded by YouTube star Jake Paul and entrepreneur Joey Levy, has been awarded an online sports betting license in Maryland. The decision was made by the Maryland Sports Wagering Application Review Commission (SWARC) on Wednesday. Although the official launch date has yet to be determined, the company must first complete a controlled demonstration with the Maryland Lottery.

Betr is currently operational in Ohio and Virginia, having exited the Massachusetts market earlier this year due to economic reasons. The move to Maryland comes as Betfred prepares to exit the state’s sports betting market by the end of July, citing insufficient market share, with less than $1 million in bets placed in May.

In addition to Betr, other new entrants are preparing to launch in Maryland. Veterans Services Corporation (VSC) plans to debut its online sportsbook on July 1, while Bally Bet is also expected to enter the market next month, though an exact date has not been disclosed.

Maryland’s sports betting market is currently dominated by FanDuel and DraftKings, which reported mobile handles of $195.2 million and $137.4 million, respectively, in May. No other app surpassed $35 million in mobile handle, with smaller operators like Betfred, betPARX, Crab Sports, and SuperBook Sports all posting online handles below $1 million.

Betr hopes to capture Maryland bettors’ interest with its product, which focuses on live betting. However, it is anticipated that the company will initially rank lower in terms of market share.

SWARC Chairman Thomas Brandt commented on the expanding industry during Wednesday’s meeting. “It’s been interesting to watch this industry evolve,” Brandt said. “Of course, there are the two big kahunas, as we sort of anticipated, but these guys seem to have identified a niche they want to try to exploit.”

Maryland’s legal framework for digital sports betting requires operators to be tied to casinos, racetracks, professional sports teams, and other land-based entities, with up to 60 licensed operators permitted. Currently, about 15 sites are live. Lawmakers and regulators have also implemented stringent minority business requirements, with Rod N Reel Bingo recently approved for a Class B facility license.