A Las Vegas-based legal sports betting operator is expanding its reach across America.
On Tuesday, SuperBook Sports launched operations in Maryland, giving the sports wagering company market access to eight states across the U.S., including Arizona, Colorado, Nevada, New Jersey, Tennessee, Iowa, and Ohio. SuperBook isn't done yet, with plans to open SuperBook Bar & Restaurant at Oriole Park at Camden Yards in the mix.
"We're thrilled to bring SuperBook Sports to Maryland, a state with a passionate sports fanbase,” said SuperBook Vice President of Race & Sports Book Operations Jay Kornegay. “With baseball underway, we look forward to offering our customers the best odds and unique promotions for betting on the Orioles and other favorite teams."
SuperBook’s presence in Maryland comes after the company was awarded an online sports betting license in April by the state’s Lottery and Gaming Control Commission. SuperBook, which is one of nine online sports betting sites to operate in Maryland, was awarded a license after completing a controlled demonstration of its platform to ensure its viability as an operator.
Joining the party
Maryland has also granted online and retail wagering licenses to other major sportsbooks in the U.S., including DraftKings, Caesars Sportsbook, BetMGM, Barstool Sportsbook, PointsBet, and FanDuel — the largest sportsbook in America in terms of market share at around 50%.
Sportsbooks in the Old Line State are reaping the benefits of an emerging market that legalized online wagering in 2022. According to the MLGCC, the state’s sports betting handle closed at $385.8 million in March — a 12% increase compared to the month prior. Maryland generated $44.5 million in gross revenue in March, up 15% compared to February. The state’s Future Fund, which supports public education, will receive more than $5.3 million of that gross revenue.
More change in Maryland
Rival operator PointsBet and the University of Maryland mutually agreed to terminate their partnership, which was secured through Maryland Sports Properties in December 2021.
Their partnership dissolved following concerns by state lawmakers that it mirrored PointsBet’s previous agreement with the University of Colorado. PointsBet and CU ended their sponsorship deal in March after an incentivized program centered on referral fees received backlash that it promoted gambling to students. CU and PointsBet inked a five-year, $1.6 million deal in 2020.
PointsBet and UMD’s agreement did not include an incentivized program but lawmakers believed that CU’s deal could spur similar pacts in the future. Lawmakers also believe that deals that include third parties like Maryland Sports Properties don’t offer enough transparency.
