Betfred and SuperBook to Leave Online Sports Betting Market Online Betting

Betfred and SuperBook to Leave Online Sports Betting Market in the USA

By Blake Roberts Founder & Editor in Chief Updated: 29 July 2024

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

See Full Bio

It has been reported that the sports betting industry in the United States is set to change with two online sports betting operators set to leave the market. The move comes as the long-awaited football season fast approaches, with both SuperBook and Betfred deciding to leave the online sports betting market in the USA.

A number of states will be affected by the decisions of the two operators to leave the market, and it will mean fewer online betting options for sports fans in the affected states. With the sports betting market becoming increasingly competitive in the US, other operators have already decided to leave in recent months.

SuperBook’s Decision to Leave

According to reports, SuperBook has not given any specific reason for its decision to leave the US online sports betting market. The decision will have an impact on eight states that offer online sports betting, which include Arizona, Colorado, Iowa, Maryland, New Jersey, Ohio, Tennessee, and Virginia.

The operator announced its decision recently via a Tweet after the company stopped taking bets. The decision has also been announced on the company’s website.

In the Tweet, officials from SuperBook wrote,

We regret to inform you that SuperBook Sports will no longer be accepting bets or deposits in the following states: AZ, CO, IA, MD, NJ, OH, TN & VA. Thank you for being a loyal customer of SuperBook Sports.

Data suggests that SuperBook struggled in terms of gaining a decent market share in the above states. For instance, in June, the operators only gained a 0.3 percent market share in New Jersey, with even lower figures in some other states.

One of the factors contributing to SuperBook’s challenges might have been the operational limitations imposed by the Wire Act, which restricts interstate sports betting activities. This federal law is said to have impeded the company from using its popular NFL betting product, SuperContest, across state lines.

Decision to Leave by Betfred

The other operator that has announced its withdrawal from the online sports betting market is Betfred, which has become a well-known name in the industry. The operator sent an email to customers to announce its decision.

Like SuperBook, Betfred has also failed to gain a solid market share in the online sports betting industry in the United States. With operators such as FanDuel and DraftKings dominating the market, it has become increasingly difficult for many smaller operators to gain a foothold and secure a decent share of the sports betting market.

Officials said that the decisions of the two operators to withdraw from the market is part of a broader trend among operators across the nation. A number of other operators are said to have either scaled back their operations in the US or pulled out altogether. This is partly due to the stiff competition that they face in the increasingly crowded market.

The departure of the operators comes at a time when many sports fans are gearing up to place bets online once the football season kicks off in September.