Betsafe Becomes the Latest Sportsbook to Exit the US Market

Swedish gambling company Betsson has announced its decision to close its Betsafe sportsbook in Colorado, signaling its exit from the US market. According to a message on the Colorado Betsafe website, new registrations and deposits will no longer be accepted as of September 6th, and users are encouraged to withdraw their funds by September 27th. The sportsbook will fully shut down on September 30th, 2024.

Betsafe initially launched in Colorado in March 2022 through a partnership with Dostal Alley Casino, securing a 10-year operating agreement in the state. However, Betsafe did not expand to other US states, though it did launch in Ontario, Canada, where it will continue to operate.

Betsson’s withdrawal from the US market brings an end to its customer-facing operations in the country. The launch of Betsafe in Colorado was intended to showcase Betsson’s sports betting technology in hopes of forming partnerships with other sportsbooks. This followed Betsson’s 2021 investment in Strive Gaming, aimed at supporting its US expansion efforts.

Wave of US Sportsbook Closures

Betsafe’s exit follows several other recent closures in the US sports betting market. Earlier this week, Australian bookmaker BlueBet announced its departure from the US, closing its ClutchBet brand on September 16, 2024.

In July 2024, Betway also shut down its US sports betting operations, while keeping its online casinos active in Pennsylvania and New Jersey. That same month, MGM Resorts subsidiary LeoVegas acquired Tipico sportsbook and promptly began winding down its US sports betting business.

Unibet also exited the US sports betting market, completing its closure by the second quarter of 2024. Other notable exits include PointsBet, which was acquired by Fanatics in June 2023, and MaximBet, which shut down its Colorado and Indiana operations in November 2022 due to challenging market conditions.

FuboTV closed its sports betting platform, Fubo Gaming, in October 2022, citing financial difficulties, while Score Media and Gaming and Churchill Downs Inc. similarly ended their US sports betting operations in 2022.