British bookmaker Betfred has announced the closure of its online betting platform in Arizona, joining eight other bookmakers that have already exited the state.
The operator continued accepting new players until September 19, with a full shutdown scheduled for November 4.
Betfred’s departure from Arizona is attributed to difficulties in growing market share and profitability. In June, the company reported $2 million in revenue, with $1.8 million paid out to players. In comparison, June 2023 saw $2.2 million in revenue and $2.1 million in payouts.
In June 2024, Betfred ranked 10th out of 17 licensed operators in Arizona. The company had also shuttered its Maryland operations in late July after a two-year partnership with off-track betting venue Long Shot’s, facing similar competition challenges. In May 2024, Betfred’s turnover in Maryland was $496,979, placing it 10th in the state’s rankings.
As of September 2024, Maryland hosts 12 licensed online sportsbooks.
In July, SaharaBets also announced its exit from Arizona, following the relocation of its partner, the Arizona Coyotes, to Utah next season. That same month, SuperBook Sports informed customers it was halting operations in eight states, including Arizona, to focus on its Nevada business.
Over the past two years, Arizona has seen several operators, including Betway, Fubo Sportsbook, WynnBet, TwinSpires, and Unibet, shut down their online sports betting services. In response, the Arizona Department of Gaming (ADG) has reopened its licensing process for new operators. The state’s gambling laws allow for up to 20 sportsbook licenses.
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