Betfred is a UK-based operator that is available in certain markets in the United States. However, that number continues to get smaller as Betfred’s presence in the commercial gaming market weakens. Over the last two months, BetFred has stopped taking bets in two markets. Maryland and Ohio are no longer accepting wagers via Betfred’s website and app. Additionally, Colorado is set to stop taking wagers at the end of this month. On August 31 at noon local time, Betfred will cease operations in the US. This comes just after they secured an agreement with the Colorado Division of Gaming. Now, the only US states that still offer Betfred’s product are Pennsylvania, Arizona, Iowa, and Virginia. Betfred also has retail casino locations in Louisiana, Washington, and Nevada. Betfred USA CEO Kresimir Spajcic had this to say about the possibility of leaving the US market completely.
“I truly believe that my team and I can create a sustainable business. The question is: Can you make a business profitable enough to make sense to continue operating in the U.S. versus putting this effort and investment elsewhere that might yield a bigger return?” – said Kresimir Spajcic
Is Betfred leaving the US market inevitable?
In September 2023, BetFred hired Kresimir Spajcic as their new US CEO. Since Spajcic took over, Betfred has had to close its operation in several states. There’s a public concern about further downsizing in the United States. Spajcic said he hopes that Betfred doesn’t have to cease operations. Betfred plans to introduce online gambling to states where their market already exists on a retail basis. Recently, Betfred has had to close its operations in Maryland and Ohio. Spajcic said the company needed to reassess its position in the market before it could think about potentially opening again.
Kresimir Spajcic also noted that Betfred is working on several new “groundbreaking projects” as well as rehashing some existing partnerships. It will help Betfred determine whether it’s a smart decision for their company to continue operating in the United States. Spajcic said he should have a better understanding by the end of the year. In the last two years, several US markets have had to cease their operations. They include SuperBook Sports, WynnBet, Betway, Tipico, PointsBet, MaximBet, FOX Bet, and Fubo Sportsbook. It’s not easy for smaller sportsbooks to establish themselves in US markets that already have industry leaders like FanDuel and DraftKings. Betfred is doing what it can to stay relevant in the US but a full shutdown in the states could happen down the road.
