The UK-based bookmaker Betfred is shutting down its US online sports betting business. The company’s digital presence in the United States will end on 31 July 2025, when it ceases operations in Pennsylvania. This marks Betfred’s complete withdrawal from the US online gambling sector. It has already stopped accepting new bets and is in the process of winding down its platform.
Betfred’s US market withdrawal
Betfred operated in Pennsylvania through a partnership with Wind Creek Bethlehem Casino. The future of this retail partnership remains uncertain, but the online operations are confirmed to be ending. Customers can access pending wagers and early cash-out options until the end of July. For bets that settle after the closure date, Betfred has stated that payouts will be issued by post.
In January 2025, Betfred announced its departure from Pennsylvania and ceased operations in Nevada. Prior to these closures, Betfred had already exited several states, including Arizona, Colorado, Ohio, Maryland, and Virginia. These withdrawals followed poor user engagement and underwhelming market performance. Additionally, Betfred ended its land-based operations at Silver Reef Casino Resort in Washington in late 2024, concluding its business there.
European bookmakers are exiting the US market
The US sports betting sector is highly competitive, with major domestic operators such as FanDuel, DraftKings, and BetMGM holding significant market share. This has made it difficult for new entrants to gain traction or achieve profitability. Each US state has its own regulatory framework, requiring separate licences, tax compliance, and operational adjustments. These factors increase costs and complexity for operators. In this environment, international firms have found it challenging to attract and retain customers.
Holding a licence in the US sports betting market does not guarantee profitability. Many European operators misjudged the level of competition and operational complexity. Differences in consumer behaviour between US and European bettors further complicated marketing efforts. Additionally, high advertising costs combined with low returns made it financially unsustainable for several firms to maintain visibility and grow their user base.
Other major exits
Super Group discontinued Betway’s US operations despite holding licences in nine states. The decision followed an internal review which concluded that the path to profitability was too long. German operator Tipico exited the US market by selling its assets to LeoVegas, a subsidiary of MGM Resorts, in 2024. Details of the transaction were not publicly disclosed.
888 Holdings ended its partnership with Authentic Brands Group, withdrawing from the SI Sportsbook and Casino venture. The exit cost the company $50 million, with slow returns and high operating expenses cited as the main reasons.
Implications for the US sports betting market
The departure of well-known European brands may discourage new or smaller international companies from entering the American market. Major US-based sportsbooks such as DraftKings, FanDuel, Caesars, and BetMGM may strengthen their market positions due to reduced competition.
The exit of foreign companies could lead to increased mergers and acquisitions, as domestic firms seek to acquire assets or customer databases. Following its US exit, Betfred is expected to focus on markets where it already has a strong presence, such as the UK, or expand into regions with more favourable regulations and lower operating costs.
