US Betting Market Bids Farewell: Betfred Joins List of Departing Sports Betting Providers in the States
Betfred Exits the US Market After Struggling to Gain a Foothold
Betfred, a UK-based gambling company, has announced its departure from the highly competitive US sports betting market. The closure of its operations, which began in late 2024, was not limited to Pennsylvania, but included various states where Betfred had a presence.
The journey for Betfred in the US began in December 2020, when it partnered with Wind Creek Bethlehem Casino to launch its online sportsbook in Pennsylvania. However, the company's operations faced significant challenges, with failure to build up a significant market share and underwhelming performance in the competitive US market.
The US market is dominated by a few major players, such as FanDuel and DraftKings, making it difficult for smaller operators like Betfred to gain traction. The strict state regulatory frameworks, with separate licenses and taxes, also raised costs and operational complexity, further contributing to Betfred's struggles.
Despite management attempts to continue, the company was unable to do so, even in a single state. The last remaining platform for Betfred in the US was in Pennsylvania, which will wind down on Thursday, July 31, 2025. Pending wagers and early cash-out options will be available until this date, with post-closure winnings paid by check.
The closure of Betfred's operations in the US market further highlights the challenges faced by smaller operators in the competitive market. Betfred joins other operators like Betway, 888, and Tipico in leaving the US market, signalling potential difficulties for similar companies looking to establish themselves in the market.
The wind down of Betfred's Pennsylvania platform does not affect its operations in other regions. The company continues to operate in various parts of the world, including the UK and Europe.
References:
[1] Gambling Insider. (2025). Betfred to exit US market following losses. Retrieved from https://www.gamblinginsider.com/2025/07/betfred-to-exit-us-market-following-losses/
[2] Online Poker Report. (2025). Betfred to exit US market, close all sports betting operations. Retrieved from https://www.onlinepokerreport.com/2025/07/betfred-to-exit-us-market-close-all-sports-betting-operations/
[3] Forbes. (2025). The Challenges Faced by Smaller Operators in the US Sports Betting Market. Retrieved from https://www.forbes.com/sites/johnggruber/2025/07/01/the-challenges-faced-by-smaller-operators-in-the-us-sports-betting-market/
[4] The Philadelphia Inquirer. (2020). Betfred partners with Wind Creek Bethlehem Casino to enter Pennsylvania’s sports betting market. Retrieved from https://www.inquirer.com/business/casinos/betfred-partners-wind-creek-bethlehem-casino-pennsylvania-sports-betting-market-20201201.html
[5] Betfred. (2025). Betfred to close sports betting operations in Pennsylvania. Retrieved from https://www.betfred.com/news/betfred-to-close-sports-betting-operations-in-pennsylvania/
- Despite the substantial competition from major players like FanDuel and DraftKings in the US sports betting market, Betfred's struggle to gain a significant market share led to its decision to withdraw from casino-and-gambling operations in this market.
- The closure of Betfred's sports betting operations in the US market extends to various states, illustrating the obstacles smaller operators encounter, such as strict regulations and high operational costs, in this competitive environment, where sports betting and casino-and-gambling activities are prevalent.
