Betsson Group is closing down its Betsafe sportsbook operations in the U.S.

Betsafe announced on Friday that it will be shutting down its online operations and mobile app. Deposits and new accounts will no longer be allowed as of 6 September, and no wagers will be accepted after 16 September. Players have until 27 September to withdraw all funds from their accounts, which will close on 30 September.

This news comes on the heels of Australian-owned ClutchBet's announcement that they arem also pulling out of the US market.

From Covers.com:

Colorado, which has the most sports betting operators of any state, will go from 19 to 17 by the end of the month.
Colorado and Canada are the only North American markets where Betsafe operates, although the brand expanded to South America in June when it obtained a license in Peru.

The Betsson-owned sportsbook launched its first U.S. sportsbook in March 2022 through a partnership with Dostal Alley Casino. The initial ambitions were to expand Betsson’s proprietary sportsbook technology in other markets.

Founded in Sweden and operating out of Malta, Betsson owns over 20 gaming brands globally, including NordicBet, Europebet, and Casinoeuro. Betsson’s second quarter of 2024 was its most profitable ever, and revenue grew 15% year-over-year.

However, stiff competition in the U.S. has recently forced out smaller B2C operators. Colorado regulators don’t publish revenue for individual operators, so Betsafe’s market share is unknown.
Read more here: https://www.covers.com/industry/bets...t-sept-02-2024