{"id":329168,"date":"2024-08-29T15:11:15","date_gmt":"2024-08-29T20:11:15","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=329168"},"modified":"2024-08-30T09:58:02","modified_gmt":"2024-08-30T14:58:02","slug":"bluebet-departing-us-sports-betting-market","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/","title":{"rendered":"BlueBet Departing US Sports Betting Market"},"content":{"rendered":"

Australian sportsbook operator BlueBet said it’s withdrawing from the US market to focus on its sports betting business in its home country.<\/p>\n

\"BlueBet\"
An image from a BlueBet commercial. The company announced it’s leaving the US sports betting market. (Image: YouTube)<\/figcaption><\/figure>\n

The gaming company made the decision as part of its strategic review of its US operations, and it arrived about two months after BlueBet announced plans to leave Indiana<\/a>. At that time, the operator indicated it intended to continue doing business in Colorado, Iowa, and Louisiana, but it also told investors the strategic review was ongoing. By leaving the US, BlueBet can better focus on its Australian business, which is thriving.<\/p>\n

The company\u2019s stated objective is to exceed 10% market share in the short- to mid-term through a combination of organic and inorganic growth,\u201d according to a statement. \u201cIt is confident its expertise in building and scaling Australian wagering operators and ongoing investment in technology will deliver outstanding experiences for customers and create value for shareholders.\u201d<\/p><\/blockquote>\n

BlueBet acquired Aussie rival Betr<\/a> in April, combining the buyer\u2019s technology stack with the target\u2019s strong customer base. By leaving the US, BlueBet can focus on tapping synergies in that deal.<\/p>\n

BlueBet Will Save Cash By Leaving US<\/h2>\n

Although the US is the newest large regulated sports wagering market in the world, it\u2019s fast become one of the most competitive and expensive to operate in. Those costs especially weigh on smaller operators such as BlueBet.<\/p>\n

\n

To that end, there are cost benefits for BlueBet in leaving the US. The gaming company told investors it could save $4.07 million to $5.42 million annually, based on current exchange rates, by shuttering its US sports wagering business. Headwinds to BlueBet\u2019s business-to-business Sportsbook-as-a-Solution (SaaS) were among the reasons the operator decided to leave the US.<\/p>\n<\/div>\n

\u201cThe decision to exit the US comes as slower than expected regulation has hampered total market growth and hindered interest in the company\u2019s B2B SaaS platform, which BlueBet viewed as a significant opportunity,\u201d the company added in the statement.<\/p>\n

Though it didn\u2019t mention any rivals by name, BlueBet acknowledged the difficulties smaller operators face in the US when going up against larger rivals. Currently, the US sports wagering is essentially a duopoly controlled by FanDuel<\/a> and DraftKings.<\/p>\n

With BlueBet, US Sports Betting Casualties Piling Up<\/h2>\n

With BlueBet confirming it’s abandoning the consumer-facing side of the US sports betting market, \u201cdeaths\u201d in the space are piling up at a rapid pace. BlueBet\u2019s decision arrived less than two weeks after Betfred said its considering<\/a> a similar move.<\/p>\n

\n

Before that, Fubo Sportsbook, FOX Bet, MaximBET, PointsBet US, Tipico, and WynnBET, among others, announced plans to give up on US sports betting or be acquired. Add to that, Super Group (NYSE: SGHC), the parent company of Betway, said it\u2019s leaving the US sports betting market while SuperBook owner Westgate<\/a> said it will no longer offer mobile betting in any state outside of Nevada.<\/p>\n<\/div>\n

BlueBet added that it will continue to seek monetization of its technology assets in the US and abroad. It expects to take one-time charges related to the closures of its various state-level operations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian sportsbook operator BlueBet said it’s withdrawing from the US market to focus on its sports betting business in its home country. The gaming company made the decision as part of its strategic review of its US operations, and it arrived about two months after BlueBet announced plans to leave Indiana. At that time, the […]<\/p>\n","protected":false},"author":46,"featured_media":324148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1074,16693],"tags":[80968,82041],"acf":[],"yoast_head":"\nBlueBet Departing US Sports Betting Market<\/title>\n<meta name=\"description\" content=\"BlueBet Departing US Sports Betting Market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlueBet Departing US Sports Betting Market\" \/>\n<meta property=\"og:description\" content=\"BlueBet Departing US Sports Betting Market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T20:11:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-30T14:58:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/\",\"url\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/\",\"name\":\"BlueBet Departing US Sports Betting Market\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"datePublished\":\"2024-08-29T20:11:15+00:00\",\"dateModified\":\"2024-08-30T14:58:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"BlueBet Departing US Sports Betting Market.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-us-sports-betting-market\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"width\":1280,\"height\":720,\"caption\":\"An image from a BlueBet commercial. 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