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Betway Sportsbook Exit Underscores U.S. Market Difficulties

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Betway's departure reaffirms the difficulty all companies face gaining traction in a U.S. market dominated by just a handful of operators.

Betway's departure reaffirms the difficulty all companies face gaining traction in what seems increasingly like a U.S. market dominated by just a handful of operators.Six years into legal single-game sports betting outside Nevada and it's clear that a tech platform isn’t enough to be competitive.In most states, it didn’t even come close to cracking 1% of total handle.

Like other top European competitors such as 888 and William Hill, Betway began an expansive promotional and marketing approach to American audiences following the Court decision. In 2021, Betway struck a major deal with the NHL that included prominent marketing displays across Stanley Cup playoff games. The operator also partnered with the NHL’s Philadelphia Flyers and Ottawa Senators.

By 2023, the company offered its sportsbook in nine states: Arizona, Colorado, Iowa, Indiana, Louisiana, New Jersey, Ohio, Pennsylvania, and Virginia.Ten months ago they were going to spend $20 m on an Illinois mobile only license. Now they’re out. This industry is full of nut jobs.Like 888, which branded under the Sports Illustrated name in the U.S., Betway never became a household name to Americans.

 

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