The pool of US sports betting operators continues to shrink ahead of the next football season as SuperBook announced it will end its operations outside of Nevada.
SuperBook tweeted out its closure plans at 8:38 pm Eastern Friday. Bettors may have known before that, as the sportsbook said it would no longer take bets after 8 pm.
SuperBook pulling out of eight sports betting markets may overshadow the fact that Betfred also emailed Ohio bettors to say it was exiting the state Friday. That marks its second market exit in as many months after Betfred announced its Maryland exit in June.
No reason given for SuperBook withdrawal
SuperBook did not say why it was ending most operations in its tweet.
“We regret to inform you that SuperBook Sports will no longer be accepting bets or deposits in the following states: AZ, CO, IA, MD, NJ, OH, TN & VA,” the tweet said. “Thank you for being a loyal customer of SuperBook Sports.”
A look at the data, however, makes the exit a bit more clear.
SuperBook struggled to gain share
Of the eight states SuperBook is leaving, six offer some sort of share breakdown by operator. From the latest available numbers, SuperBook had its best run in New Jersey, where it captured 0.3% of revenue share in June:
- Arizona: 0.1% of online handle, 0.1% of taxable revenue in April
- Iowa: 0.1% of online handle, negative revenue in June
- Maryland: 0.1% of online handle, 0.05% of taxable revenue in June
- New Jersey: 0.3% of revenue share in June
- Ohio: 0.1% of online handle, 0.03% of taxable revenue in May
- Virginia: 0.01% of handle share for January 2023 through November 2023
The Las Vegas heavyweight sportsbook could not run its SuperContest across state lines because of the Wire Act, likely limiting its ability to market its most-popular product for NFL betting.
Betfred leaving second state
Similar to SuperBook, Betfred fell into the group of “other” sportsbooks that compete for whatever small piece of market share is not taken by the biggest brands.
Partnering with the Cincinnati Bengals did not give Betfred a significant lift within Ohio. Part of that could be attributed to Betfred and the Bengals not opening a retail sportsbook near the stadium, which could have added to its brand recognition.
The brand took just 0.08% of Ohio’s online handle in May. Taxable revenue share was even bleaker at 0.003%, or $2,284 of nearly $66.2 million in May.
Where Betfred remains active
Betfred is still live in eight states, six of which have mobile operations:
- Arizona
- Colorado
- Iowa
- Louisiana
- Nevada (no mobile)
- Pennsylvania
- Virginia
- Washington (no mobile)
SuperBook marks fourth exit this year
SuperBook is the fourth sports betting brand that said it was wrapping up its US operations this year:
- Betway
- SaharaBet
- SI Sportsbook
There are now at least a dozen sportsbooks that launched online sports betting in the US that either have withdrawn or are planning a full withdrawal.
