Betfred Retreats to Pennsylvania as Sole US Presence Following Nevada Exit

This departure marks a significant retreat for the UK-based operator, which once had a presence in 10 states as of early 2023. With Pennsylvania as its sole remaining foothold, Betfred operates the Wind Creek Bethlehem sportsbook and provides online sports betting services there.

Nevada was a notable addition to Betfred’s portfolio when it entered the state in early 2023. The operator obtained a license to run a sportsbook at Virgin Hotels Las Vegas in partnership with Mohegan Sun, facilitated by SCCG Management. Nevada became the 10th and final state where Betfred established operations, adding to its presence in Arizona, Colorado, Iowa, Louisiana, Maryland, Ohio, Virginia, and Washington. However, the company has systematically withdrawn from most of these markets in recent months, including its exits from Iowa and Washington in December 2024.

The closure of Betfred’s Nevada sportsbook comes amidst broader challenges for operators in the US market. Nevada's November 2024 gaming report highlighted a year-on-year decline of 4.21% in overall gaming revenue, potentially influencing decisions like Betfred’s departure. On its website, the company clarified that retail operations in Nevada have ceased. Customers with winning wagers or cash vouchers can redeem them at the Mohegan Sportsbook at Virgin Hotels Las Vegas or by mail, following specific redemption instructions. Mailed-in tickets will be processed, and checks issued within 30 days of receipt. Additionally, unsettled wagers will be honored as events conclude, with the same redemption policies in place for payouts.

This latest exit raises questions about Betfred’s future in the US market. The company has yet to indicate whether it plans to remain in Pennsylvania long-term or if a complete withdrawal from the US is under consideration. Such moves would not be unprecedented, as other operators like Super Group and Betsson Group have recently exited the competitive US sports betting market, citing challenging operating conditions and shifting priorities.

Betfred’s retreat underscores the difficulties faced by international operators in navigating the complex and highly competitive US sports betting landscape. For now, Pennsylvania remains its last stronghold in the region, but the long-term outlook for its US presence remains uncertain.