Betfred CEO Says a Full US Exit Could Be “On The Table”

The future of Betfred in the United States is uncertain, as its USA CEO, Kresimir Spajic, hinted that a complete exit could be “on the table” if the company fails to establish a sustainable business model there. The company is one of our best sports betting sites, but it doesn't compete on the level of the biggest names in the nation.

In an interview with EGR North America, Spajic said the company could further downsize across states where it does not feel it is the right fit.

When asked if the company could survive in the States, Spajic said, “We are definitely trying but there are no promises, and I think it will boil down to whether you can make yourself a sustainable business.”

Several exits already

Just last week, Betfred ceased operations in the Ohio sports betting market, where it first launched last January. The company struggled to gain significant market share in the Buckeye State and also faced challenges such as the tax increase from 10% to 20% on sports betting revenue.

A month earlier, Betfred closed down its online wagering operations in the Maryland sports betting scene, less than a year after launching there. In May 2024, the company handled less than $500,000 in Maryland and was the 10th most popular of the 12 operators in the state.

“In other states, we are doing the same that we’ve been doing in Maryland and Ohio, trying to basically reassess our position, renegotiate some of the old agreements, and seeing if we can find a sustainable and profitable path,” commented Spajic.

The last day to wager on Betfred in the Colorado sports betting market was Aug. 14. The company will fully terminate its online operations there on August 31, 2024. Bettors have until 10 p.m. local time to initiate a manual withdrawal from Betfred Colorado.

If you're in a state that the operator still has a presence in, you can check it out with our Betfred promo code.

Groundbreaking projects

In the interview with EGR, Spajic revealed that the operator is currently working on several “groundbreaking projects.” The outcomes of these projects could decide the company’s future in the US market.

“I would say yes [it’s possible we could see more exits before the end of the year],” Spajic told EGR. “By the end of the year, we are going to know where all these deals that we are trying to negotiate are going.”

He added, “But one very unique deal, even if it is in only one state, could make it happen because remember, many states here have sizable population and consequently large revenue potential.”

About Betfred

Founded by Fred Done in 1967, Betfred is a sports betting operator headquartered in the UK. Following its most recent exit from Colorado, Betfred’s online offering is now available in four US markets: Pennsylvania sports betting, Iowa sports betting, Virginia sports betting, and Arizona sports betting. At the same time, bettors can visit retail Betfred locations in Louisiana sports betting, Nevada sports betting, and Washington sports betting.

The company first launched in the US in 2019, and Spajic was appointed CEO of Betfred USA in September 2023.

“I’m truly excited to embark on this journey as the CEO of Betfred USA,” Spajic said. “I am looking forward to working with our exceptional domestic and global talent and partners. Together, we aim to build a sustainable business in the U.S. by delivering unparalleled value and support to our customers while upholding a strong commitment to responsible gaming.”