Betway Joins Growing List Of Sportsbooks To Shut Down In United States
Super Group announced Wednesday that it will shutter Betway Sportsbook in the United States. The operator is currently active in nine markets and will work with regulators in those markets on an exit plan. Betway joins a long list of operators who have failed to gain significant market share in the U.S. sports betting industry.
Betway Sportsbook – Another One Bites The Dust
Neal Menashe, Super Group CEO, cited continued losses with no clear path to profitability as the reasoning behind the decision. Super Group suffered a €17.8 million ($19.3 million USD) adjusted EBITDA loss in the fourth quarter of 2023. This led to an overall €57.4 million ($62.1 million USD) loss for the year. Following the losses, Super Group made the decision to cease operations in the following states:
- Arizona
- Colorado
- Illinois
- Indiana
- Louisiana
- New Jersey
- Ohio
- Pennsylvania
- Virginia
“As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate,” said Menashe. “We have recently concluded an extensive review of our U.S. operations and, at present, we do not see a long-term path to profitability for the sportsbook product.”
Betway Sportsbook isn’t the only operator that has announced that it will be shutting down this week. SaharaBets announced it will shutter its Arizona sports betting operations on Tuesday. The list of sportsbooks leaving the U.S. continues to grow as operators fail to claim true market share.
US Sportsbooks To Have Launched And Shut Down
- Barstool Sportsbook
- FoxBet
- Fubo Sportsbook
- MaximBet
- PlayUp Sportsbook
- PointsBet
- TwinSpires
- William Hill
Remaining Sportsbooks In The US After Betway Shutters Sports Betting Business
Betway never held more than a low single-digit market share in any of the nine markets it was active in. Sports betting fans have seemingly grown comfortable with the reigning top brands, which makes it difficult for others to succeed. The nine markets that are losing Betway will still be home to some of the best sports betting sites and will continue to have betting options.
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