US Sports Betting Market Experiences Another Departure: Betfred Announces Its Withdrawal
Betfred Bids Farewell to the US Sports Betting Market
Betfred, a popular sports betting operator, has announced its departure from the US market, following in the footsteps of other companies like Betway, 888, and Tipico. The decision was primarily due to the company's inability to build a substantial market share and achieve profitability amidst fierce competition from dominant players such as FanDuel, DraftKings, Caesars, and BetMGM.
Despite attempts to continue operations in at least one state, Betfred found the operational complexity and costs associated with varying state regulations, licenses, and taxes too high in relation to the returns. As a result, the company gradually shuttered both retail and online operations in numerous states, including Nevada, Iowa, Arizona, Colorado, Ohio, Maryland, Virginia, and finally Pennsylvania, where it ended its online sportsbook on July 31, 2025.
At its peak, Betfred had sportsbooks in about ten states. Its last online presence was a partnership with the Wind Creek Bethlehem Casino in Pennsylvania. Although the retail sportsbook might remain operational temporarily, Betfred's online brand will no longer be associated with it, as the wind down of the platform is scheduled for Thursday.
The US market is dominated by a few major sports betting operators, with FanDuel and DraftKings leading the pack. The competitive landscape makes it challenging for smaller or international entrants like Betfred to compete profitably.
Betfred initially entered the US market in December 2020, but the losses incurred were substantial. The exact reasons for the decision to exit the market are not specified, but the market's dominance by a few major players may have played a significant role.
It remains unclear whether Betfred plans to return to the US market in the future. For now, the company is focusing on its international operations, where it continues to make its mark as a leading sports betting operator.
- Despite initially venturing into the US market with a focus on sports betting, Betfred found the competitive landscape, particularly dominance by major operators such as FanDuel and DraftKings, challenging, necessitating the closure of its casino-and-gambling operations in various states.
- As Betfred exits the US sports betting market, it shifts its attention back to its international operations, where it currently competes successfully, albeit against a different set of competitors which may not include sports as prominently as in the US.
