European operators’ approach in the US has failed to work says Jessica Welman, following the latest news that Betfred are retreating from the market. 

The SBC Managing Editor has commented on the emerging situation of Betfred’s quiet U.S. exit which marks another European operator bowing out, ending a six-year spell in the country. 

While the US was once seen as the next great frontier for operators, regulation, high costs and growing competition has forced many European brands away. 

Speaking on episode 571 of the iGaming Daily Podcast, Jessica Welman, Managing Editor at SBC, alongside Media Manager, Charlie Horner, discussed the latest market news, citing that the opportunity in the US is no longer viable.

Welman said: “That brings to a close another European operator in the United States, which is emblematic of the recession that we’ve seen in the last 12 to 18 months really. I think most European operators are looking at America and thinking it’s probably not worth the investment. The opportunity is no longer there.”

Other than Betfred, Super Group – owner of the Betway and Spin Casino brands – also recently announced that it is fully withdrawing from the US. The move comes just three years after being listed on the NYSE – but bet365 are continuing to push for success.

A 2024 YouGov study showed that the company had less than four percent in the US but it was the top sportsbook among American bettors aged 21-34. 

The company also recently opened a new US headquarters in Denver, Colorado, and plans to hire over 1,000 employees to support its expansion.

There were also reports of the company potentially welcoming a sale in May, yet, the latest reports from the market in May showed that bet365 were looking to be very competitive, especially when it comes to price which was commented on by Welman. 

“In a trend where we’re seeing a lot of European operators sort of give up, bet365 are doubling down,” She stated. “What I would say is that I think there’s a lot of soul searching going on at these operators, or at least some of the people who were involved in that sort of period, in 2018 to 2022 when everyone was chasing this sort of gold mine. 

“I don’t think people quite realised how to reach US players. I think they probably just thought they could copy and paste what was working in Europe so well and they’ve probably learned the hard way that it doesn’t necessarily work. 

“But again, I think it’s a learning curve for everyone and we’ve seen Brazil launch this year. I think there’s a lot more of that sort of localisation and thinking about how we tailor things to local audiences now than there was maybe six or seven years ago when this first took place.”