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 working Maryland mobile sports betting app, and with the opening of its retail locations, it offers a complete experience for bettors. Customers can place bets at the sportsbook in person or deposit and withdraw money straight 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 results in Maryland were not impressive, bringing in only 0.42% of the total handle, which amounted to $1.8 million for the month. It had a hold of just 3.4%, netting $60,820 after payouts. Since the company spent $119,783 on promotions in September, it ended up losing money for the month. In the two months of the fiscal year so far, Betfred has added only $2,323.54 to the state from a total of $15,490 in taxable winnings.
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.