Super Group Announces Departure Industry

Super Group to Leave the US Sports Betting Market

By Amelia Walker Senior Content Writer Updated: 27 July 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

See Full Bio

It has been announced that Super Group is set to leave the US sports betting market. The company is the parent company of sports betting giant, Betway, and announced its decision to leave recently. With the sports betting market becoming increasingly crowded in the United States, this company is the latest to announce its departure.

According to company officials, an extensive internal review was carried out before the decision to leave the US market was reached. The company now plans to work alongside regulators to start the process of winding down operations in nine states across the country. However, officials also confirmed that online casino access would continue in Pennsylvania and New Jersey.

CEO Neal Menashe said,

The vast majority of Super Group’s revenue is generated in iGaming and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our U.S. footprint if the right investment or strategic opportunities arise.

The company said that there are likely to be costs incurred as a result of the decision and that this will be discussed next month.

No Long-Term Profitability in Sports Betting

The decision by Super Group officials will not come as a complete surprise to many, as officials hinted at this type of move earlier this year.

In January, the company told investors that it would be spending less money on sports betting activities in 2024 compared to previous years. In addition, officials said that they didn’t believe that there was any long-term profitability in the US sports betting market.

Many believe that the decision of Super Group, along with other sports betting operators to leave the US market is due to the monopoly of two leading sportsbooks.

DraftKings and FanDuel have become household names in the sports betting market in the United States. With a heavy presence in sports betting states across the nation, the two giants control around 70 percent of the market.

The competition among sportsbook operators has become increasingly stiff, with more and more entering the market. Coupled with the dominance of FanDuel and DraftKings, this has left many sportsbooks fighting for even a small share of the market. As a result, some have decided to pull out of the US market altogether.

A Growing Market

The sports betting market in the United States has grown hugely over the past few years. Since the overturning of PASPA back in 2018, many states have legalized sports betting in some form. This has proven great for sports fans looking to place bets on their favorite teams and sports but has made things difficult for many operators.

There is already stiff competition among sportsbook operations in the United States, and the sports betting market continues to grow. More states are likely to launch sports betting over the next couple of years, and an increasing number of operators are entering the market. This could mean even stiffer competition for smaller operations, which could see further retreats from the US market.