Maryland commissioners grant approval for licenses to two additional businesses for sports betting

The Maryland Sports Wagering Application Review Commission has given its approval to two additional businesses for sports betting licenses, bringing the total number of awarded licenses to 31.

Among the newly licensed companies is Veterans Services Corp., which has been involved in running the DC Lottery for the past 12 years as a subcontractor for Intralot, a Greek company. Additionally, Whitman Gaming has been granted a license to operate a betting facility within the Sports and Social bar located in North Bethesda.

Meanwhile, Veterans Services Corp.’s license is specifically for mobile sports betting. Local media reports indicate that Whitman Gaming will be offering bets through FanDuel, while Veterans Services Corp. will be providing mobile betting through Bee-Fee Limited, a remote gaming software company based in London, as part of a revenue-sharing agreement.

Emmanuel Bailey, President and CEO of Veterans Services, stated, “Our partnership, as a vendor to the DC Lottery, has returned over $500 million to the district.”

Before commencing operations, Whitman Gaming and Veterans Services Corp. will be required to conduct controlled demonstrations with the Maryland Lottery and Gaming Control Commission. These demonstrations will involve live wagering conducted under observation by staff members.

Currently, about one-third of the businesses that have been awarded a license by the Sports Wagering Application Review Commission, including Whitman Gaming and Veterans Services Corp., have not yet begun accepting bets. These firms are still in the process of fulfilling additional operational and technical requirements that are necessary for their opening.

As per the Maryland Lottery and Gaming Control Agency, before their official launch, the businesses must complete documentation of their internal control procedures, security and surveillance systems, technology and back-office systems, and responsible gaming plan.

Seth Elkin, spokesman for the Maryland Lottery and Gaming Control Commission, stated that the businesses will progress through the remaining requirements at their own pace, as reported by The Daily Record.

In March, the reported month, Maryland’s 10 retail and eight mobile sportsbooks generated over $5.3 million in revenue, surpassing the February and January figures of $2.8 million and $2.1 million, respectively. This marks the highest monthly revenue since the state’s sports betting program launched in December 2021, with the March Madness college basketball tournament providing a boost.

As of the end of March, the state’s sports gambling program has generated $16.8 million for Blueprint for Maryland’s Future, a comprehensive education reform plan that includes a $3.8 billion increase in funding for schools annually over a decade. Each sportsbook contributes 15% of its taxable win to support this program.