Official sports betting is a unique opportunity for industry movers and shakers to come together. They often join forces to create an expansive portfolio of mutually beneficial deals. In the US, official betting partnerships have been rapidly catching on in the last three years.
A number of leagues have welcomed growth with open arms. The NFL has partnered with DraftKings, the NHL has announced a partnership with Fanatics, and the PGA Tour has entered into an exclusive deal with FanDuel.
There is a lot to know about the legal sports betting market in Maryland. To begin with, there are two layers of oversight. One is run by the lottery, and the other by a regulatory body called the Sports Wagering Application Review Commission (SWARC).
SWARC has approved the application of 10 applicants for online sports betting licenses. These operators include BetMGM, Caesars, and FanDuel.
As the licensing process continues to progress, the list of companies with official sports betting agreements has grown. Some of these agreements are for a long term relationship, and others are for a short term deal.
The PGA TOUR announced a new multi-year marketing partnership. It also announced an expansion of its content relationship with DraftKings. Combined, these two companies will be the official betting partners for all PGA Tour events.
While it’s unclear exactly when the markets will officially launch, the official rulebook for sports betting was published in the Maryland Register on August 21, 2021. Until then, there were a few sportsbooks in operation.