bet365 Goes Live in Maryland, Entering Its 15th U.S. State
The global online betting giant bet365 has officially launched its mobile sportsbook in Maryland, making it the 15th U.S. state where the company is now operational. The Maryland Lottery and Gaming Control Agency (MLGCA) formally approved the company’s license application on August 28, clearing the way for its immediate entry into the state’s competitive market.
Entering a Crowded and Competitive Market
Maryland represents a significant, but also challenging, new market for bet365. The state is home to a crowded and competitive online sports betting landscape, with bet365 becoming the 12th legal mobile sportsbook to launch.
The company will be competing against all the major national brands, including market leaders FanDuel and DraftKings, as well as Caesars, BetMGM, and ESPN BET. Maryland also features a number of smaller, state-specific operators, creating a highly fragmented market.
The regulatory environment in Maryland has also recently become more challenging. The state recently increased its tax rate on sports betting revenue from 15% to 20%, a move that will put additional pressure on operator margins.
A Methodical U.S. Expansion Strategy
The Maryland launch is the second new state entry for bet365 in August alone, following its debut in Kansas earlier in the month. It is also the fourth new state the company has entered since March, a clear sign of an accelerating expansion plan.
Despite its global scale, bet365 has taken a more measured approach to the U.S. market compared to some of its competitors. The company has generally launched later in new states and has spent significantly less on advertising and promotions. This strategy has allowed it to build a stable market share, effectively competing with more established U.S. brands.
A key differentiator for bet365 is its exclusive focus on mobile betting. The company does not operate any retail, in-person sportsbooks in the United States, a model that sets it apart from many of its rivals who have partnered with land-based casinos.
A Growing U.S. Presence
With the addition of Maryland, bet365’s U.S. footprint now covers a significant portion of the regulated market. The company is not slowing down; its next planned launch is in Missouri on December 1, where it has secured market access through a partnership with the St. Louis Cardinals.
The company’s growing presence has also led to its increasing involvement in the U.S. industry’s broader conversations. In June, bet365 became the first non-U.S.-based sportsbook to join the Sports Betting Alliance (SBA), a powerful industry coalition that also includes FanDuel, DraftKings, BetMGM, and Fanatics. The move to a new U.S. headquarters in Denver in 2024 further solidified its long-term commitment to the American market.
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