Betfred is continuing the downsizing of its American business, which is in line with the company’s earlier announcements. The operator has now confirmed that it will leave Arizona before the end of the year.
Betfred to Put an End to Its Operation in the Grand Canyon State On Thursday, Betfred said that it will exit Arizona’s mobile sports betting market on November 4. This marks yet another step in the company’s gradual exit from US markets, prompted by suboptimal performance.
Arizona, which launched mobile betting a few years ago, was expected to be one of America’s top betting markets. However, as leading brands continue to dominate the overall sector, smaller brands struggle to achieve sufficient profitability. In fact, Betfred is the fourth mobile sports betting operator to exit Arizona in 2024 alone.
For context, WynnBet, Unibet and Betway departed from The Grand Canyon State earlier this year.
Berfred’s US Business Has Been Struggling Betfred entered Arizona in February 2022 and was ambitious on securing a larger market share. The company spent significant sums on promotions in hopes of attracting more customers. Betfred has so far spent more than $2.5 million on promotion in Arizona, although its promotional spend drastically declined in 2024.
The operator recorded a peak monthly handle of $5.1 million in September 2023 but has been struggling to live up to this figure ever since. Its highest handle for the current year was recorded in April and stood at $3.8 million. However, this figure was offset by a multitude of winning bets, resulting in a loss for the company.
Betfred proceeded to record an even more significant loss in June, further adding to its woes.
The Operator Departed from Other US Markets Too Once Betfred exits Arizona, its local partner, the Fort McDowell Yavapai Nation, would be able to form a partnership with another operator, potentially inviting another company to The Grand Canyon State.
Arizona is not the first market Betfred has departed from this year. Several weeks ago, the company ceased operation in Colorado, following exits from Maryland and Ohio.
As of the time of this writing, Betfred still operates mobile betting in Iowa, Pennsylvania and Virginia, as well as retail betting in Louisiana, Nevada and Washington.
