{"id":5598,"date":"2024-07-15T12:28:01","date_gmt":"2024-07-15T12:28:01","guid":{"rendered":"https:\/\/www.realmoneygambling.com\/news\/?p=5598"},"modified":"2024-07-15T12:28:01","modified_gmt":"2024-07-15T12:28:01","slug":"changes-ahead-for-u-s-sports-betting-landscape-as-key-operators-exit","status":"publish","type":"post","link":"https:\/\/www.realmoneygambling.com\/news\/changes-ahead-for-u-s-sports-betting-landscape-as-key-operators-exit\/","title":{"rendered":"Changes Ahead for U.S. Sports Betting Landscape as Key Operators Exit"},"content":{"rendered":"\n

In a significant shake-up for the U.S. sports betting landscape, two operators, Betway<\/a> and SaharaBets, have recently announced their exit from the market. Both Betway (a Super Group subsidiary) and SaharaBets (affiliated with the Arizona Coyotes of the National Hockey League) indicated that they were mainly driven to pull out amid challenges related to profitability and strategic realignments. But is that all?<\/p>\n\n\n\n

A Strategic Retreat for Betway<\/h2>\n\n\n\n

Iowa, New Jersey, Pennsylvania, Colorado, Indiana, Virginia, Ohio, and Louisiana are among the nine states where Betway will end its sports betting operations<\/a>. An in-depth internal analysis could not find a sustainable way for the sportsbook product to be profitable in the US market, according to Super Group CEO Neal Menashe. He made it clear that Super Group, as an international company, is always looking for ways to maximize profits in whatever country it operates in, and that their existing activities in the United States are not fulfilling that need.<\/p>\n\n\n\n

Regardless, Jackpot City and the rest of Super Group’s Spin portfolio will remain the emphasis of the company’s online gaming activities in Pennsylvania and New Jersey. The bulk of Super Group’s income is generated by iGaming, as Menashe pointed out, and the firm is willing to extend its presence in the United States if the correct investment possibilities come along.<\/p>\n\n\n\n

SaharaBets’ Woes<\/h2>\n\n\n\n

SaharaBets began operations in January 2022 in collaboration with the Arizona Coyotes. Owing to the Coyotes’ decision to move to Utah, the operator is no longer able to comply with Arizona’s requirement that sports betting operators have a partnership with a state sports team or tribe.<\/p>\n\n\n\n

Also, when it came to the cutthroat Arizona market, SaharaBets was always near the bottom of the rankings. Sports betting tax income for the state came to a pitiful $6,235 in April, with SaharaBets reporting an online sports betting total of little over $900,000.<\/p>\n\n\n\n

What Next?<\/h2>\n\n\n\n

These developments demonstrate how operators are coping with market dynamics where a few companies dominate the American sports betting business, which is notorious for a high degree of competition and consolidation. Operating in an ever-changing business, operators have the challenge of reconciling strategic expansion with profitability in an increasingly complicated market.<\/p>\n\n\n\n

Thankfully, countermeasures are already in place. For instance, in the\u00a0wake of these departures, the Arizona Department of Gaming has begun accepting applications for additional sports betting licenses<\/a>. This opens the door for other competitors to enter the market and take advantage of the space that SaharaBets and Betway have created in the highly competitive and profitable American sports betting industry.<\/p>\n","protected":false},"excerpt":{"rendered":"In a significant shake-up for the U.S. sports betting landscape, two operators, Betway and SaharaBets, have recently announced their exit from the market. Both Betway (a Super Group subsidiary) and SaharaBets (affiliated with the Arizona Coyotes of the National Hockey League) indicated that they were mainly driven to pull out amid challenges related to profitability […]","protected":false},"author":9,"featured_media":5599,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[582,410,174,583,570],"class_list":["post-5598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-markets","tag-online-sports-betting","tag-revenue","tag-strategy","tag-trends"],"acf":[],"yoast_head":"\nChanges Ahead for U.S. Sports Betting Landscape as Key Operators Exit - Real Money Gambling News<\/title>\n<meta name=\"description\" content=\"n a significant shake-up for the U.S. sports betting landscape, two operators, Betway and SaharaBets, have recently announced their exit from the market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realmoneygambling.com\/news\/changes-ahead-for-u-s-sports-betting-landscape-as-key-operators-exit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changes Ahead for U.S. Sports Betting Landscape as Key Operators Exit - 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