Betfred Officially Exits the US Sports Betting Market Today

The US sports betting market will be getting a little bit smaller today.

Betfred Sportsbooks has announced it will be shuttering its online sportsbook in Pennsylvania today. The state represented the last US market where the sportsbook was available after shutting operations down in Nevada earlier this year. No announcement has been made about Betfred’s retail sportsbook location at Wind Creek Bethlehem Casino.

Betfred customers in the Keystone State can no longer place wagers, but can cash out their accounts. The winnings from any bets settled after today will be sent via the Post Office.

The British sportsbook entered the US market with high hopes, launching in over ten different states. Before exiting Pennsylvania and Nevada, the sportsbooks shut down operations in Iowa, Washington, Arizona, Colorado, Ohio, Maryland, and Virginia. 

The operator joins a long line of international sportsbooks that have failed in the US. While many of those operators brought in years of experience from other markets, they were unable to compete with DraftKings, FanDuel, and the well-known Las Vegas brands like BetMGM and Caesars.

While Betfred will no longer have a presence in the US, it has yet to confirm whether it has ruled out returning in the future.

Bet365 Continues to Defy the Odds

Betfred’s US exit makes the accomplishments of bet365 Sportsbooks all the more impressive. The fellow British bookmaker has found a way to succeed in the US, and is currently live in 14 states. The operator is continuing to grow, with more partnerships and advertising, further establishing the brand in the US.

Unlike other international sportsbooks like Betfred, bet365 decided to take a slower approach to entering the US market. They were cautious and waited to expand until they began to see success in their first few markets. If Betfred or other failed operators decide to give the US market another try, expect them to adopt bet365’s strategy.