Betfred exits Nevada's sports betting market, leaving Pennsylvania the lone state where it operates

UK Bookmaker Betfred has shut down its Nevada operation. Pennsylvania is now the only US state where the sports betting brand operates.

An official announcement on the operator's website explained to customers that it is making a full exit from Nevada's retail sports betting market. Betfred encouraged players with winning tickets or cash vouchers to redeem their winnings at the Mohegan Sportsbook located within Virgin Hotels Las Vegas or use the Mail-in Redemption process. Betfred also said customer service representatives would be on hand to answer any patron queries as the process unfolds. 

The company's decision to reduce its operations in the U.S. market follows mixed FY2023 results, which highlighted the need to scale back its U.S. operations. A July report showed significant deficits, generating losses of $91.7 million for the period. The results showed a sharp contrast to Betfred's $25.1 million profit during the previous fiscal year. 

Closures started earlier in 2024 when Betfred folded its Maryland operations in June. This was among many states where the operator had to withdraw after a somewhat short tenure. 

In September, Betfred announced it was folding its operations in Arizona, and in the following month, it also pulled out of Virginia where it had operated for less than two years.

Betfred is one of numerous online sportsbooks that have reduced exposure or left the U.S. market in recent months, including Betway, SI Sportsbook, and Unibet, among others. Other international betting operators that have left the U.S. market include Unibet, Betway, and Evoke (formerly known as 888Sports).