Another prominent European sports betting site is making its exodus from the US market. Betfred has announced that it will shutter its last remaining online sportsbook at the end of July.
Entering the US market in 2020, at one point, 10 Betfred Sportsbooks were operating in the country. The shutdown began last year. Betfred first closed sportsbooks in Arizona, Virginia, and Washington. Betfred has undertaken further shutdowns of online sportsbooks in Iowa, Colorado, Ohio, and Maryland. The company also ended its retail operation in Nevada in January 2025.
Pennsylvania is the last remaining state with a Betfred online sportsbook. That site will be closing down on July 31. Wind Creek Bethlehem, Betfred's land-based casino partner in the Keystone State, announced the closing on its website.
"Wind Creek and Betfred will be closing online sports betting operations in Pennsylvania as of July 31, 2025," the statement read.
All winning wagers up until that date will be paid out in the accounts of Betfred players. Winning wagers that cash after July 31 will be sent to the player via check by mail.
An inability to gain any semblance of a foothold in the market is being cited as the reason behind the company's US departure. Betfred officials previously noted the need to reduce its presence in areas that are proving to lack profitability for the company.
While awaiting the release of 2025 figures, it's worth pointing out that Betfred did reveal a $91.7 million loss for the 2024 fiscal year. That was a significant dropoff from Betfred's $25.1 million profit earnings in 2023.
At the time, company officials were suggesting that a complete departure from the US market was on the table if things didn't improve.
Betfred is a major player in Europe. The company operates 1500 retail betting shops in the United Kingdom, along with its online sports betting site. The brand is the major corporate sponsor of Britain's Super Rugby League and World Matchplay Darts, one of the legs of the triple crown in that sport.
However, Betfred is just the latest iconic European sportsbook to discover that its success elsewhere carried no weight with US sports bettors.
Betfred's departure comes on the heels of SuperGroup exiting the US market earlier this month. SuperGroup initially closed its Betway Sportsbook last year based on projections from the company that it would take too long to be profitable. The company then made the decision earlier this month to also close its online casino operations in New Jersey and Pennsylvania due to increasing regulatory costs.
Malta-based Tipico, after making no headway in four US markets, sold its US operation to LeoVegas, a subsidiary of MGM Resorts, in 2024. After entering into an unsuccessful partnership with Authentic Brands Group (SI Sportsbook), Gibraltar-based 888 Holdings (now known as Evoke plc) paid a $50 million penalty to get out of the deal.
Swedish-owned Kindred Group, operators of Unibet, closed down its US presence in 2024. In five years of operation in the country, Unibet was never able to gain even 1% of the market. Betsson, another Swedish site, operated in the US as Betsafe. That site closed down in 2024 after just two years in the market.
Australian-based PointsBet sold its US assets to Fanatics Sportsbook in 2024. FOXBet, WynnBET, Fubo, and theScore Bet are other sportsbooks that have decided to exit the US market.
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