Betfred CEO Confirms Full US Exit Is Being Discussed

The US may soon see another sportsbook operator choose to exit the market.

Betfred CEO Kresimir Spajic revealed in an interview with EGR North America that the company could soon be forced to exit the US betting market. His comments came as he discussed the company’s plans for the future, which include setting a new business model and scaling back across the country.

“We are definitely trying, but there are no promises, and I think it will boil down to whether you can make yourself a sustainable business,” Spajic said when asked if he believes the platform can succeed in the US. 

The company recently exited markets in Colorado, Louisiana, Ohio, and Maryland as it attempts to reassess its strategy in the US.

As of today, Betfred Sportsbook is available in Arizona, Iowa, Nevada (retail), Pennsylvania, Virginia, and Washington (retail). 

US Exit Far From a Guarantee

While many sportsbooks like Betfred have failed to survive in the US, there have also been some success stories. Fellow UK-based platform bet365 is an excellent example of this. The operator struggled to compete at first, but a slow and calculated strategy allowed them to find success in the long run. 

Another example comes from Bally’s, which many industry experts believe would fail. The operator chose to scale back operations to focus on improving user experience in a few markets. That has led to success, and the operator has again expanded across different US markets.

Betfred could also benefit from Bovada’s dramatic scaling back of its presence in the US. Several states have threatened the offshore sportsbook with legal action if it does not exit the market, and Bovada has complied. This means that Bovada customers are now looking for a new platform, allowing a small operator like Betfred to expand its user base.

Between Bovada’s exit and the success stories of other operators, don’t be surprised if the platform finds itself in a far stronger position this time next year.