Gaming Innovation Group has secured a legal sports betting operator license in Maryland.
A license in Maryland further expands GiG’s market access in North America, which already includes an existing presence in New Jersey, Iowa, and Ontario.
GiG — an iGaming technology company — offers land and cloud-based services and performance marketing for operators. Its partners include online sports betting sites like LeoVegas and bet365.
GiG will use its newly-acquired license in Maryland to launch Crab Sports — a local-focused online sports betting site that is expected to go live in May. The sports betting operator was founded in 2021 and would join eight other online sportsbooks in the Old Line State.
GiG secured a deal with Crab Sports in June 2022 to provide the sportsbook with its gambling platform. The deal marked the first offering in North America for the Malta-based company.
Crab Sports’ anticipated launch in May is the byproduct of the unique law for sports betting in Maryland, which encourages small, minority, and women-owned businesses. Crab Sports, which is privately held, is more than 50% owned by individuals who identify as women and minorities.
Maryland’s Sports Wagering Application Review Commission can award up to 60 licenses for online sports betting. In February, the commission awarded SuperBook an online license.
Maryland is projected to generate $217 million in revenue from sports betting in the first year.
Expanding reach
GiG has also secured a fully interactive gaming manufacturer license in Pennsylvania.
“Having placed a strong focus on expansion in regulated markets, we’re understandably pleased with the confirmation of our licenses in two new US states,” said General Counsel Claudio Caruana. “Regulation will continue to drive the industry in North America.”
GiG’s license in Pennsylvania builds on a previous interim authorization agreement that was signed in October 2022. The license also allows GiG to launch in the state with an existing partner.
Growing trend
Crab Sports adds to a growing list of local-focused sportsbooks.
Tennessee-based Action 24/7 has emerged as a competitor to major sportsbooks in The Volunteer State, while betJACK has market access to Ohio, which launched wagering on January 1.
New Jersey’s Prophet Sports Betting Exchange and Iowa-based DRF Sportsbook are other emerging local-focused sportsbooks across America.
