Betfred is adding to the list of sports betting operators leaving Arizona’s gaming market.
The British bookmaker has announced the ceasing operations for its online wagering platform in Arizona joining eight other sportsbooks that have recently exited the state.
Betfred has set an evening Sept. 19 deadline for new customers to create an account and wager with the platform. The operator plans to cease all operations in Arizona on Nov. 4.
Active users have until the November deadline to withdraw funds from their accounts.
Betfred is exiting Arizona amid the inability to increase its market share and drive profits. It reported a $2 million handle in June and paid $1.8 million to players. By comparison, Betfred posted a $2.2 million handle in June 2023 while paying players $2.1 million.
The results in June 2024 for Betfred ranked 10th out of Arizona’s 17 licensed operators.
Mass exodus in Arizona
SaharaBets announced in July its exit from Arizona amid a relocation of its licensing partner. The Arizona-focused operator secured a wagering license in the state through a partnership with the Arizona Coyotes, which are relocating to Utah next season.
That same month, SuperBook Sports notified account holders of its plan to shutter operations in eight states to focus on its Nevada business. SuperBook’s exit included Arizona, Colorado, Iowa, Maryland, New Jersey, Ohio, Tennessee and Virginia.
Over the last two years, Arizona has also seen Betway, Fubo Sportsbook, WynnBet, TwinSpires and Unibet cease online sports betting operations in the state.
The Arizona Department of Gaming (ADG) reopened its licensing process to accept new applications for wagering licenses amid the departure of operators from the state.
Arizona gaming law allows a maximum of 20 event wagering licenses to be awarded.
Betfred leaves another US market
On July 31, Betfred closed business in Maryland ending a two-year partnership with off-track betting parlor Long Shot’s. Betfred also struggled in the Old Line State to compete with top operators. It closed May 2024 with a $496,979 handle ranking 10th in the state.
As of September 2024, Maryland is home to 12 licensed online sportsbooks.
