Betfred to Cease Online Sports Betting Operations in Arizona

Betfred, the U.K.-based online sports betting and iGaming platform, is adding to the growing list of sports wagering operators leaving Arizona’s gaming market. The British bookmaker announced its ceasing operations in Arizona, joining eight other sportsbooks that have recently exited the Grand Canyon State.

Betfred plans to cease all operations in Arizona on Nov. 4

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.

Furthermore, Betfred is exiting the Copper State after struggling to increase its market share and drive profits. It reported a $2 million handle in June and paid $1.8 million to players.

For 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 the state’s 17 licensed operators.

Of course, Betfred also left Maryland on July 31, ending a two-year partnership with off-track betting parlor Long Shot’s. Similar to its predicament in Arizona, Betfred failed to compete with top operators in the Old Line State. It closed May 2024 with a $496,979 handle ranking 10th in the state.

Betway, Fubo Sportsbook, SaharaBets, and TwinSpires are among the online sports betting operators to exit the state

Additionally, SaharaBets announced in July its exit from Arizona amid a relocation of its licensing partner. The Arizona operator secured a wagering license in the state through a partnership with the NHL’s 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 past two years, Arizona has also seen Betway, Fubo Sportsbook, TwinSpires, Unibet, and WynnBET 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.