The Maryland sports betting market is among the most competitive in the country. The fierce competition has caused Betfred, a British gambling operator, to leave the market. But this exodus is leaving room for new blood. This is something all Pay Per Head bookies need to keep in mind when it comes to making informed decisions. However, bookies can navigate global markets a lot better with the right tools from their PPH providers. Where to apply effort and where to pass is what makes all the difference.
Betfred’s Exit: The Times Are a-Changin’
Betfred revealed its withdrawal from Maryland’s sports betting market at a recent Maryland Lottery meeting. The company is partnered with Long Shot’s in Frederick and will close its retail sportsbook on June 30 and its online sportsbook by July 31. The decision comes after Betfred’s mobile app hasn’t gained much traction and processed less than $500,000 in May. The reasons included intense competition, regulatory challenges and local brand recognition. FanDuel took in $195.2 million of online wagers for the same time frame, showing how competitive it has become.
That illustrates the hurdles smaller operators face in markets led by industry giants. Betfred’s troubles in Maryland are a cautionary tale for other potential entrants to competitive markets.
New Players on the Horizon
But in its Maryland digital sports betting landscape, new players are arriving as Betfred exits. A major player in other states, Veterans Services Corporation (VSC) will begin operating on July 1. Bally Bet, which features one of the more user-friendly platforms, has been anticipated to roll into Maryland shortly after successfully launching in Massachusetts. That there are new players demonstrates Maryland remains a desirable market — despite the heavy competition.
(Another new operator, Betr, is seeking licensure in Maryland.) Its application is to be considered next week by the state’s Sports Wagering Application Review Commission (SWARC). If granted approval, Betr could help heat up competition in the market.
Pay Per Head Bookies Opportunities
PPH bookies must keep up with the changes in the market and newcomers. This gives you a competitive edge to adapt to any market changes. PPH providers offer PPH tools to help bookies enter new markets with confidence.
Pay Per Head Bookies: Finding the Right Market
With Maryland being such a competitive market, strategic decision-making is key. It is essential for the PPH bookie to identify the right markets to enter.
It is easier for bookies using VIP Pay Per Head tools to pick the markets. Advanced tools enable bookies to address various markets seamlessly. Utilizing these tools allows the sportsbooks to even penetrate niche segments, providing consumers with exactly what particular customer groups are seeking.
Bookies are taking on new territories and opportunities early, thanks to the sophistication of VIP Pay Per Head tools. Real-time data and analytics provide insights on new trends, untapped markets, etc. to empower growth and profitability.
