Faced with sluggish profits, Betfred recently ceased its sports betting operations in Maryland and plans to end its services in Colorado and Ohio by the end of this month. The British bookmaker might be on the verge of a complete withdrawal from the US market.

Once Betfred halts mobile sports betting in Colorado and Ohio, the company’s online presence will be limited to Arizona, Iowa, Pennsylvania, and Virginia. Betfred also operates retail sportsbooks in Louisiana, Nevada, and Washington State. In an interview with EGR North America, Betfred USA CEO Kresimir Spajic emphasized the importance of profitability, noting that the company is working to strengthen its foothold in the US.

“The question is: Can you make a business profitable enough to justify continuing operations in the U.S., or would it be better to invest elsewhere for a potentially higher return?” Spajic remarked in the interview.

Spajic also mentioned that by the end of the year, he would have a clearer understanding of the company’s future in the US, including the possibility of a full exit if the value created in the market isn’t sufficient.

Betfred Could Become the Latest Casualty in the US Sports Betting Scene

Six years after the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), the once-booming US sports betting industry has seen several operators falter.

From acquisitions to outright closures, the list of US sports betting casualties includes Fubo Sportsbook, FOX Bet, MaximBET, PointsBet US, Tipico, and WynnBET. Recently, Super Group (NYSE: SGHC), the parent company of Betway, announced its departure from the US market, while SuperBook owner Westgate revealed plans to discontinue mobile betting outside Nevada.

The common thread among these exits is the difficulty of competing against the dominant duopoly of DraftKings and FanDuel, a challenge that is even more pronounced for foreign companies like Betfred that lack strong brand recognition among US bettors.

What’s Next for Betfred in the US?

While Betfred aims to maintain its presence in the remaining states, Spajic acknowledged the possibility of exiting additional markets before the year’s end. However, he also hinted at ongoing agreements and projects that could enhance Betfred’s position in the US, as well as the potential to renegotiate existing deals to benefit the company.

Profitability remains the key focus for Betfred, and if it proves elusive, the operator might consider a complete withdrawal from the US market in the near to medium term.

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