Betfred Exits Most US States, Focuses on Pennsylvania
Betfred, a UK-based betting company, has significantly reduced its presence in the United States. Once operating in multiple states, it now remains operational only in Pennsylvania, powering the Wind Creek Bethlehem Sportsbook and offering online betting.
Betfred's withdrawal began in 2023, with the most notable change being the end of its collaboration with Bonner Bros. Entertainment in Louisiana. This decision was influenced by regulatory challenges and a reassessment of the US stock market's economic viability. Despite maintaining operations in Nevada, Betfred exited other states like Colorado, Iowa, and Ohio. The company's departure was also driven by the complexity of US regulations, market consolidation by large domestic operators, and a shift in focus by its parent company.
Betfred's FY 2023 financials reflected these changes, with significant losses despite a doubling in online revenue. The company's Las Vegas stock market, launched in 2023, has since closed, and Betfred has exited Nevada's gaming market. All outstanding bets with Betfred in Nevada will be honored and settled as events occur. Players can claim their winnings at Mohegan Sportsbook at Virgin Hotels Las Vegas or via mail-in redemption.
As of late 2023, Betfred's US operations have been largely scaled back, with the company exiting most states where it previously operated, including Arizona, Virginia, and Maryland. The company's future in the US stock market remains uncertain, with its focus now primarily on Pennsylvania.
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