Betfred has announced further expansion in the United States, with the opening of a retail sportsbook at Long Shot’s in Maryland.
Betfred’s location spans 6,300 square feet in Central Maryland. The location will feature 157 seats, with an 80-panel television wall and 12 self-service betting terminals. In addition, the OTB will have both a bar and restaurant for prospective bettors.
Betfred already has a functioning Maryland mobile sports betting application, and with the launch of its retail premises presents an omnichannel opportunity for bettors. Consumers will be able place a bet at the sportsbook in person, or deposit and withdraw funds directly to and from their online account with Betfair.
Kresimir Spajic, CEO of Betfred USA commented: “Our commitment to enhancing the sports betting experience remains unwavering. The effortless integration of cash deposits and withdrawals exemplifies our dedication to providing customers in Frederick and all of Maryland with a top-tier betting experience.”
Alyse Cohen, CEO of Long Shot’s said: “We are thrilled to collaborate with Betfred and introduce this state-of-the-art sportsbook to the Capital Region. It’s a terrific addition to the outstanding Long Shot’s experience.”
Betfred’s online performance in Maryland was far from spectacular, capturing just 0.42% of total handle, taking $1.8 million for the month. It achieved hold of just 3.4%, taking $60,820 after paying out prizes. Given the company forked out $119,783 in promotions for the month of September, thus making a loss for the month overall. For the two months in the fiscal year so far, Betfred has contributed just $2,323.54 to the state on a total of $15,490 taxable win.
Maryland’s retail sports betting handle for September totalled $21.5 million, with 13 venues reporting handle for the month. Total taxable revenue for September was $2.3 million, a marginal increase on August reported figures.