One of the UK’s leading gaming companies, Betfred, has announced it is ceasing operations in Arizona following exits in several other markets.
Betfred Dead in the Desert
It is an announcement we have heard many times over the last year when it comes to lower-tiered sportsbooks pulling up stakes in markets around the nation. The consolidation of the mobile gaming market has whittled noticeably, and Betfred is one of those casualties, having already withdrawn its operations in Maryland and Ohio in July.
“We are working closely with regulators to ensure this process is handled securely, correctly, and done in accordance with all state regulations and guidelines,” the company stated. “We strive to meet player and regulatory needs and expectations.”
November 4th is the projected date on which Betfred will officially depart the Arizona market, but September 20th is when any outstanding bets will be “settled on a fair market value as an early cash-out,” according to the statement. Customers are advised to direct any questions regarding their accounts at Betfred to supportaz@betfred.com.
Betfred still has a pulse in the U.S. market as it maintains its mobile sportsbook platform in Colorado, Iowa, Louisiana, Pennsylvania, and Virginia with retail sports betting shops in Nevada and Washington.
Arizona Sees Mass Exodus
Betfred is just the latest to leave the Grand Canyon State, with other recent departures being SaharaBets, which gained access to the market through an agreement with the NHL’s Arizona Coyotes and launched in 2022. Its timing coincides with the Arizona Coyotes being sold and the franchise moving to Utah, beginning play in Salt Lake City this season.
The sportsbook was owned and operated by the previous Coyotes owner, billionaire Alex Meruelo, who decided to create his own mobile betting platform and eschew a partnership with a major industry player like FanDuel, DraftKings, Caesars, et al.
The sportsbook closed in July with an email from SaharaBets to customers stating, “The decision was not made lightly, and we understand the impact it may have on you as a customer. We want to express our gratitude for your support throughout the years.”
Betway’s Exit
SuperGroup’s Betway is another mobile sports betting operator unable to make a go of it in the Arizona market, shuttering its operation in July as well. The St. Peter Port bookmaker, located on the island of Guernsey, is discontinuing in nearly all of its other U.S. sports betting markets, including Colorado, Iowa, Maryland, New Jersey, Ohio, Tennessee, and Virginia.
However, the company has isolated its Nevada operations as its only remaining base of domestic sports betting operations while continuing its iGaming enterprises through its Spin brand in New Jersey and Pennsylvania.
“As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate,” said CEO Neal Menashe.
“We have recently concluded an extensive review of our US operations and, at present, we do not see a long-term path to profitability for the sportsbook product.”
“The vast majority of Super Group’s revenue is generated in iGaming, and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania.
“We are open to expanding our US footprint if the right investment or strategic opportunities arise,” he added.
