Australian sportsbook operator BlueBet has announced its decision to withdraw from the US market to concentrate on its thriving sports betting business in Australia.

This decision follows a strategic review of BlueBet’s US operations, coming just two months after the company revealed its plans to exit Indiana. Initially, BlueBet intended to continue operations in Colorado, Iowa, and Louisiana, but the ongoing review ultimately led to the choice to fully exit the US market. By doing so, BlueBet aims to strengthen its focus on the Australian market, where its business is flourishing.

According to a company statement, BlueBet’s goal is to capture more than 10% of the market share in Australia in the short to mid-term through both organic growth and acquisitions. The company expressed confidence that its expertise in scaling Australian wagering operations, coupled with ongoing investments in technology, will enhance customer experiences and deliver value to shareholders.

Earlier this year, BlueBet acquired Australian rival Betr, combining BlueBet’s advanced technology with Betr’s strong customer base. With its exit from the US, BlueBet can now fully focus on maximizing the synergies from this acquisition.

Financial Benefits of Exiting the US Market

While the US is the world’s newest large regulated sports wagering market, it has quickly become one of the most competitive and costly to operate in, particularly for smaller companies like BlueBet.

BlueBet expects to realize significant cost savings by exiting the US market, estimating annual savings of $4.07 million to $5.42 million, based on current exchange rates. The decision to leave the US was influenced by slower-than-expected regulatory developments, which have hampered market growth and reduced interest in BlueBet’s business-to-business Sportsbook-as-a-Solution (SaaS) platform—a key opportunity the company had initially anticipated.

Although BlueBet did not name any specific competitors, it acknowledged the challenges faced by smaller operators in the US market, which is largely dominated by giants like FanDuel and DraftKings.

Increasing Number of Exits in US Sports Betting Market

BlueBet’s departure adds to the growing list of operators exiting the US sports betting market. Just two weeks prior, Betfred announced it was considering a similar move. Other companies, including Fubo Sportsbook, FOX Bet, MaximBET, PointsBet US, Tipico, WynnBET, and Super Group (parent company of Betway), have either left the market or are planning to do so. Additionally, SuperBook owner Westgate has ceased offering mobile betting in states outside of Nevada.

BlueBet stated that it will continue to seek opportunities to monetize its technology assets both in the US and internationally, despite the closure of its state-level operations.

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