Betfred Becomes the Latest Sportsbook to Exit Arizona

Online bookmaker Betfred announced yesterday that it has stopped accepting new account registrations in Arizona, marking the latest step in its gradual withdrawal from the U.S. market. This decision comes after the company exited Colorado in August, as well as Ohio and Maryland earlier in 2024. Betfred’s Arizona sportsbook will be fully closed by November 4, 2024, according to a notice on its website.

Betfred’s U.S. operations are now limited to mobile sportsbooks in Iowa, Virginia, and Pennsylvania. It continues to operate retail sportsbooks in Washington State and Nevada, but has already shut down operations in Louisiana. Betfred U.S. CEO Kresimir Spajcic hinted earlier this year that a complete withdrawal from the U.S. market could be possible if the company does not find enough value in its operations.

Betfred initially launched in Arizona in March 2022 through a partnership with the Fort McDowell Yavapai Nation and We-Ko-Pa Casino Resort, becoming the state’s eleventh mobile sports betting operator. However, by 2024, the company struggled to maintain its market share without relying heavily on promotions. In the first half of 2024, Betfred handled $14 million in wagers, a significant drop from its peak of $5 million in September 2023.

With Betfred’s departure, the Fort McDowell Yavapai Nation is now free to partner with another sports betting operator.

Exits from Arizona’s Sports Betting Market Continue

Despite being one of the top seven sports betting markets in the U.S., Arizona has seen a number of sportsbooks leave in 2024. Betfred is the fourth operator to exit, following WynnBET in February and Unibet and Betway in June.

Even with these exits, Arizona has awarded two new tribal-based sports betting licenses to Sporttrade and Plannatech through partnerships with the Quechan Indian Tribe and San Carlos Apache Tribe, respectively.