Over the last year or so, several European betting operators have cut their ties with the US and have exited the market.
This comes at a time when the market, especially sports betting, is flourishing in the United States. After the Supreme Court overturned the Professional and Amateur Sports Protection Act in 2018, states across the country have passed laws to legalize sports betting, with many US-based operators thriving.
In 2025, the sports betting market is projected to reach $18.51 billion, with revenue between 2025 and 2029 expected to show an annual growth rate of 7.89%.
Although these numbers sound enticing, a number of European companies have recently bowed out.
Which European betting operators have left the US?
It was back in July 2024 when the parent company of sports betting and gaming businesses, Super Group, announced it would be exiting the United States sportsbook market due to a lack of a path for profitability.
The company owns Betway, a leading online sports betting and gaming business, as well as the multi-brand online casino Spin.
The German brand Tipico announced an agreement to sell its U.S. sportsbook and online casino platform in June 2024, with the LeoVegas Group, part of MGM Resorts International, buying it.
The Evoke brand, formerly 888 Holdings Limited, first shared its strategic review of US B2C operations in March 2024 before later announcing the sale of its US B2C assets in the same month.
Betfred Sportsbook is another which announced plans to formally shut down its sports betting operations in Pennsylvania, with this being reported on in July of this year. The brand began its foray into the United States in 2020 and signed a partnership at Wind Creek Bethlehem casino.
Earlier in the year, in January, Betfred departed from Nevada following other exits in late 2024.
Why are some operators choosing to change their focus?
Although not every operator who has exited has been transparent about the reasons behind it, some shared initial details when issuing updates.
Lack of a path for profitability
When first announcing their intentions to leave the United States, Super Group said the decision to close its sportsbook operations in the nine states in which it operated came after the “completion of an extensive internal review.”
The CEO, Neal Menashe, commented that the review led them to not be able to “see a long-term path to profitability for the sportsbook product.”
While the company opted out from the sportsbook perspective, it continued its iGaming presence in the country.
A year later, in July 2025, Super Group said it was making the decision to exit iGaming in the US. “Nonetheless, recent regulatory developments combined with ongoing assessment of capital allocation requirements have led us to believe that our stringent hurdle for return on capital will likely not be met in this market any time soon,” the CEO said.
‘Intense competition,’ says operator
When Evoke shared that it was undertaking a strategic review of its US B2C operations, it explained some insight into how the company was faring. Later, it announced a sale of its US B2C assets to Hard Rock Digital.
“The gross profit margin in the US is lower than the group level, reflecting significant direct costs of operating in the market including duties, market access fees, and licence fees, in addition to intense competition from well-capitalised incumbent participants,” the news release stated.
“The Group has determined that its current structure will not optimise returns, and has initiated a strategic review of the operations.”
The company’s 888 brand was active in four states, with SI Sportsbook and SI Casino in Michigan, SI Sportsbook in Colorado and Virginia and 888casino in New Jersey.
The ‘intense competition’ is very much apparent, with some big players dominating the market. At the beginning of the year, Reuters described the wide world of sports betting as ‘narrowing’ as it stated that DraftKings and FanDuel have about 80% of the U.S. market.
Those with market dominance typically have the finances for major marketing, product development, and scaling efforts, which can leave others on the back foot.
Not all are leaving, as rumors are circulating about big brand
Although there have been a number of European betting operators leaving the US in recent times, not everyone has the same view.
In early May, rumors began circulating that the Coates family, who own bet365, could be considering a partial or even full sale of the business. This could be worth as much as £9 billion ($12 billion.) The Guardian reported that talks were held with Wall Street banks and US advisors.
The company has had moderate success in the US, with some wondering if the company will eventually leave the UK for the US market.
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