Betfred Exits U.S. Sports Betting Market

Betfred Shuts Down U.S. Online Sports Betting Operations

UK-based bookmaker Betfred is officially shutting down its U.S. online sports betting business. The company’s digital operations in the United States will cease on July 31, 2025, marking its complete exit from the U.S. online gambling market. New wagers are no longer being accepted, and the platform is in the process of winding down.

The Wind-Down in Pennsylvania

Betfred had entered the Pennsylvania market through a partnership with Wind Creek Bethlehem Casino. While the future of this land-based partnership remains unclear, the closure of its online platform is final. Customers have until the end of July to review unsettled bets and opt for early cash-out. For wagers that settle after platform closure, Betfred has stated that payouts will be handled via postal mail.

Back in January 2025, Betfred had already announced its withdrawal from Pennsylvania and the cessation of operations in Nevada. This followed previous exits from Arizona, Colorado, Ohio, Maryland, and Virginia. These retreats were attributed to low user engagement and underwhelming market performance. Betfred also shuttered its physical sportsbook at Silver Reef Casino Resort in Washington in late 2024, concluding its operations there entirely.

A Broader Trend: European Operators Retreating

The U.S. sports betting market remains highly competitive, dominated by local giants like FanDuel, DraftKings, and BetMGM. This dominance makes it difficult for new entrants to gain market share or reach profitability. Each U.S. state operates under its own regulatory framework, requiring individual licensing, taxation, and localization efforts—factors that drive up operational complexity and costs.

Acquiring a U.S. sportsbook license does not guarantee financial success. Many European operators have underestimated both the intensity of local competition and the nuances of consumer behavior. Additionally, high advertising costs and low return on investment have made it difficult for foreign brands to maintain visibility and scale user acquisition.

Other Major Exits from the U.S. Market

• Super Group, despite holding licenses in nine U.S. states, decided to wind down Betway’s operations due to a bleak profitability outlook.
• Tipico, a German operator, exited the U.S. in 2024, selling its assets to LeoVegas, a subsidiary of MGM Resorts. Transaction details were not disclosed.
• 888 Holdings terminated its partnership with Authentic Brands Group and exited both the SI Sportsbook and Casino projects, incurring a $50 million loss due to slow returns and high costs.

Market Implications

The withdrawal of several high-profile European brands could discourage other international or smaller companies from entering the U.S. market. Conversely, domestic operators like DraftKings, FanDuel, Caesars, and BetMGM may tighten their grip on market share due to reduced competition.