Swedish gambling company Betsson has announced that it will close its Betsafe sportsbook in Colorado ahead of an expected exit of the US market.
A message on its Colorado website informed users that it would no longer accept registrations or deposits from September 6th. Customers were also informed that they should withdraw funds by the 27th September ahead of a full closure of the sportsbook on September 30th, 2024.
Betsafe launched in Colorado in March of 2022 in partnership with the Dostal Alley Casino. The agreement allowed the brand to operate in the state for 10 years. The brand had not launched in any other US state but did launch in Ontario, Canada. It will continue to operate in the Canadian province.
The closure marks the end of Betsson’s customer-facing operations in the United States.
The launch of Betsafe in Colorado was planned as a means to showcase the company’s sports betting technology in the hopes of securing partnerships with other sports betting brands. This followed the company’s 2021 investment in Strive Gaming, a move that was intended to support the company’s entry into the US market.
US Sportsbook Closures
Earlier this week Australian bookmaker BlueBet Holdings Limited announced that it will leave the US market to focus on operations in Australia. As part of the move, its US-facing brand ClutchBet will close down on Monday the 16th of September 2024.
Betway shut down its US sports betting operations in July of 2024. The company’s US online casinos remain active in Pennsylvania and New Jersey. This was part of brand owner Superbook’s shut down of all sportsbooks across eight states.
The same month also saw MGM Resorts subsidiary LeoVegas acquire Tipico sportsbook and immediately begin winding down Tipico US sports betting operations.
Unibet has also exited the US sports betting market. The company first announced its plans for exit in late 2023 with the shut down completed by the end of the second quarter in 2024.
In June 2023 Fanatics acquired PointsBet’s US operations. This saw all sportsbooks rebranded as Fanatics Sportsbook and the PointsBet brand exit the US market.
In November 2022 MaximBet closed its operations in Colorado and Indiana citing “macroeconomic conditions and an increasingly cost prohibitive marketplace” as the main reasons for its decision to withdraw from the market.
A month earlier, online streaming company FuboTV closed down its online sports betting business, Fubo Gaming, citing a challenging financial market as the reason for its exit.
July 2022 saw Score Media and Gaming shut down its sports betting operations in the United States. The decision to shutter its U.S. sportsbook came just eight months after theScore was acquired by Penn National Gaming in a $2 billion deal.
In February 2022 Churchill Downs Inc. shut down TwinSpires online sportsbook and casino to focus on the horse racing market.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
Betsafe Sportsbook, a popular online sports betting platform, has announced that it will be ceasing operations in the United States. This decision comes as a result of the changing legal landscape surrounding online gambling in the US.
In recent years, there has been a push to legalize and regulate online sports betting in the US, with several states already passing legislation to allow it. However, there are still many states where online sports betting remains illegal or in a legal gray area.
Betsafe Sportsbook has decided to pull out of the US market in order to comply with these laws and regulations. The company has stated that they want to ensure that they are operating in a legal and responsible manner, and that continuing to offer their services in the US would put them at risk of facing legal consequences.
While this news may come as a disappointment to US-based sports bettors who have enjoyed using Betsafe Sportsbook, it is important to remember that there are still plenty of other online sports betting platforms available in the US. It is always recommended to do thorough research and choose a reputable and legal sportsbook to place your bets with.
In the meantime, Betsafe Sportsbook will continue to operate in other countries where online sports betting is legal and regulated. They have assured their customers that their funds are safe and can be withdrawn at any time.
Overall, the decision by Betsafe Sportsbook to cease operations in the US is a reminder of the complex and ever-changing legal landscape surrounding online gambling. It is important for both operators and bettors to stay informed and compliant with the laws in their respective jurisdictions.
