Betway Sportsbook Set to Exit US Market

Betway's parent company, Super Group, has announced its plans to exit the US market. The move comes soon after the company’s first-quarter earnings release, which showed a 13.3% decrease in profits from 2023.

“As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate,” Super Group CEO Neal Menashe said in a statement. “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 has been a global sports betting powerhouse but struggled to gain traction in the US. It was far behind DraftKings and FanDuel and struggled to compete with many tier 2 and 3 operators. The operator had made a significant investment in marketing their platform over the years with sponsorships and ads, but the returns weren’t enough to justify the costs.

Super Group has already begun the process of exiting the eight markets it is currently in, which include Arizona, Colorado, Indiana, Iowa, Louisiana, New Jersey, Ohio, and Virginia. The regulators for each state will help formulate an exit plan and set dates for when the platform will stop taking bets, payout remaining wagers and balances, and shut down completely. 

Super Group did confirm that their online casino platform in New Jersey will remain live after finding far more success than their failed sportsbook.

SharaBets Also Announce Exit

The smaller SharaBets Sportsbook has also announced that they will leave the US. The small operator is owned by Alex Meruelo, who recently sold the NHL’s Arizona Coyotes. SaharaBets was licensed to operate in Arizona through the Coyotes, leaving them without a partner. Arizona was the only market the platform was live in.

SharaBets and Betway have joined a growing list of operators that are exiting the US market. The list includes notable platforms such as Barstool Sportsbook, FoxBet, Fuba Sportsbook, MaximBet, PlayUp Sportsbook, PointsBet, TwinSpires, and William Hill.