Betway Leaves One Less Betting Option for Large Number of Clients as It Withdraws from US Market

There will be one fewer choice available to those betting on sports in nine states as Betway Sportsbook exits the US market.

Super Group (SGHC) Limited, the parent company of Betway Sportsbook, has decided to remove its product from the market, meaning that the United States will no longer be able to access its services.

Super Group decided to sever connections with the US due to worries that its products, Betway and SaharaBets, wouldn’t be profitable in the country’s oversaturated online sportsbook sector.

Why Is Betway Out of the USA?

FanDuel and DraftKings hold three-quarters of the market share in the US for the present industry. After completing a thorough analysis of its US operations, Super Group found that the sportsbook product didn’t now have a viable long-term route to profitability.

The first quarter earnings report for 2023 revealed a $21.7 million loss in the US and Canada combined with a 13% year-over-year decline in revenue. Such reports prompted Super Group to conduct an internal inquiry, which ultimately resulted in the decision to leave.

The Impact of Betway’s Withdrawal on the US Market

By no means was Betway an unsatisfactory online sportsbook. Indeed, the brand is among the top bookies outside the United States for sports betting. Super Group believes that its overseas results, which have always been reported separately, won’t be impacted by the US pullout.

Since the company arrived in the US, Betway Sportsbook has expanded its services to nine states.

The states listed below are where Betway will be closing its doors (in alphabetical order):
Arizona
Colorado
Illinois
Indiana
Louisiana
New Jersey
Ohio
Pennsylvania
Virginia

Notable NBA clubs including the Brooklyn Nets, Chicago Bulls, Cleveland Cavaliers, Los Angeles Clippers, and Golden State Warriors are among those with which Betway has partnered. What will happen to those collaborations is still to be seen.

Betway is the latest sports betting website to leave the US market, following in the footsteps of Unibet, FoxBet, and PointsBet, among others.