Super Group Exiting U.S. Sports Betting Market to Focus on Internet Casino Gaming in New Jersey and Pennsylvania

Super Group, the parent company of Betway, has announced its exit from the U.S. sports betting marketplace to focus on Internet casino gaming in New Jersey and Pennsylvania. This decision comes after the company conducted an extensive review of its U.S. operations and concluded that there is not a long-term path to profitability for the sportsbook product.

Betway, which currently offers mobile sports betting in nine states, has seen limited success in the competitive market. Data shows that the company struggled to gain a significant market share beyond Pennsylvania, where they also have iGaming platforms. In states like Arizona, Ohio, and Virginia, Betway faced challenges in maintaining a strong hold and generating substantial revenue.

One of the key factors contributing to Betway’s struggles was its high spending on promotional bonuses and credits. Reports indicate that a significant portion of the company’s winnings in states like Arizona and Ohio were offset by the amount spent on promotions. This trend raised concerns about the sustainability of Betway’s sports betting operations in the U.S. market.

Super Group CEO Neal Menashe emphasized the importance of optimizing resources across all markets in which the company operates. With the shift towards Internet casino gaming in New Jersey and Pennsylvania, Betway aims to refocus its efforts and capitalize on opportunities in the online gaming sector.

While there has been no official announcement regarding the timeline for Betway’s exit from the U.S. sports betting market, the company’s decision marks a significant shift in its strategic focus. As the landscape of the sports betting industry continues to evolve, Betway’s move highlights the challenges and opportunities that come with navigating this dynamic and competitive market.