Betfred Sports nets Maryland market access with Long Shot’s deal

Betfred Sports has inked a market access deal with Long Shot’s of Frederick, Maryland to develop a retail and online sportsbook in the Free State when it finally regulates later this year.

Pending regulatory approval, Betfred has committed to opening a temporary retail sportsbook adjacent to the Maryland Jockey Club’s on-track bookmakers within the Long Shot’s property in time for the 2022 football season.

The duo are further committed to opening a permanent 8,800 square foot, state-of-the-art sportsbook by 2023, with an online sportsbook set to launch in the Maryland later this year.

The temporary sportsbook, scheduled to open in September pending regulatory approval, will consist of in-person betting windows and self-serve betting kiosks.

Speaking about the market access deal, Betfred Sports COO Bryan Bennett said: “We identified Long Shot’s very early when searching for a Maryland partner.

“When combining Betfred’s 50 years of bookmaking experience and Long Shot’s success with off-track betting, we believe this will be a formidable partnership to compete in the Maryland sports betting space,” Bennett added.

These comments were echoed by Long Shot’s CEO Alyse Cohen, who highlighted Long Shot’s history of offering betting on horseracing in Maryland.

“We were at the forefront of bringing sports betting to Maryland and specifically to Frederick. We are thrilled to open a sportsbook at Long Shot’s in partnership with Betfred Sports,” Cohen said.

“We are proud that Long Shot’s is one of the premier off-track betting locations in the state and we look forward to achieving similar success with sports wagering.  Long Shot’s will not only boost the local economy but contribute to enhancing the education of our students,” he added.

Betfred Sports is currently a licensed operator in Iowa, Pennsylvania, Colorado, Arizona and Louisiana, and is currently seeking approval to launch in Nevada, Washington and Maryland.

Despite enabling legislation authorizing sports betting being signed into law in 2021, regulators in Maryland have made extremely slow progress in drafting standards and creating a licensing process for operators.

The Sports Wagering Application Review Commission (SWARC), which regulates gambling in the state, was recently called out by Governor Larry Hogan over its lack of action on this issue, with Hogan suggesting a potential deadline of the start of the NFL season.

This high-profile intervention has spurred some progress, however, meetings regarding finalising the standards are still taking place.