Sports Betting

Betway, SaharaBets Cease U.S. Sports Betting Operations

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Betway, SaharaBets Both Cease U.S. Sports Betting Operations

Betway and SaharaBets both announced their permanent closures, as Betway is set to cease its sports betting operations in nine U.S. states. SaharaBets immediately ceased its Arizona operations on July 9.

Betway is ceasing its operations for lack of profitability, SaharaBets is closing due to the NHL's Arizona Coyotes relocation

According to sources, Betway cited a lack of U.S. profitability for its impending closure. SaharaBets is reportedly closing its operations because of its partner, the NHL’s Arizona Coyotes, relocating to Utah.

Super Group, Betway’s parent company, announced its decision to shut down its U.S. sports betting operations Wednesday morning. Super Group will close the sportsbook in these nine states: Arizona, Colorado, Indiana, Iowa, Louisiana, New Jersey, Ohio, Pennsylvania, and Virginia.

Additionally, Super Group CEO Neal Menashe revealed the company's inability to generate revenue ultimately led to the decision to cease U.S. operations.

“As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate. We have recently concluded an extensive review of our U.S. operations and, at present, we do not see a long-term path to profitability for the sportsbook product,” Menashe said in a notice on the company’s website.

Although the Betway sportsbook is shutting down, Super Group announced Betway’s iGaming casino services will continue in both New Jersey and Pennsylvania.

“The vast majority of Super Group’s revenue is generated in iGaming and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our U.S. footprint if the right investment or strategic opportunities arise.”

Arizona law requires all licensed sports betting operators to either partner with a state sports franchise or state tribe

Earlier this year, Betway announced it would allow its Massachusetts sports betting license lapse when it expired in February. Betway had been licensed in the Bay State for more than a year, but it had never launched its services.

As for SaharaBets, accounts will be available for customers for the next 30 days to allow for outstanding bets to settle and for users to withdraw funds by Aug. 8.

Since Arizona law requires all licensed sports betting operators to either partner with a state sports franchise or state tribe, SaharaBets' closure was inevitable after the Coyotes announced their relocation plan.

Furthermore, the state permits 10 licenses for sports teams while the other 10 are for tribes.

The Arizona Department of Gaming (ADG) announced in early June it would begin accepting application for sports betting licenses this month.

The application window for licenses will close on Friday, July 19.