Betsson has decided to discontinue its B2C operations in the US-state of Colorado by the end of September 2024.
Betsson has decided to discontinue its B2C operations in the US state of Colorado by the end of September 2024.
The decision marks the end of Betsson’s direct consumer engagement in the US for the foreseeable future, a company spokesperson told NEXT.io.
Betsson launched its mobile sportsbook platform under the Betsafe brand in Colorado in the spring of 2023, in partnership with Dostal Alley Casino.
As part of the launch, Betsson also opened an office in downtown Denver. This office manages the B2C operations but primarily supports Betsson’s regional B2B operations.
“As communicated initially, our B2C operations in Colorado served primarily to display our sportsbook for B2B purposes and to provide us with valuable first-hand insights into the dynamics of the US online sports betting market,” the spokesperson added.
The Colorado sportsbook was therefore less about competing locally and more about strengthening Betsson’s B2B showcase.
Betsson’s CEO, Pontus Lindwall, addressed the situation earlier this year during an interview with NEXT.io.
When asked about the company’s potential exit from the US market, following similar moves by competitors such as Kindred Group, Lindwall clarified Betsson’s distinct approach.
“The situation is different because we, unlike Kindred, only went to the US with a B2B offering.
“We are already supplying our sportsbook to many other markets, and it’s the same product that we use successfully elsewhere.
“Every euro we invest in that sportsbook benefits us and our partners. We’re not dependent on the US market in that regard.
“We will continue to offer the sportsbook there for the time being and see how it develops,” Lindwall said at the time.
The CEO also stressed Betsson’s strategic emphasis on other regions, particularly Latin America, when asked why the B2B sportsbook had not signed a single customer.
“I think we have simply put more effort into developing other markets, particularly Latam. But looking at the Q4 figures, I think we have made the right decision,” Lindwall said.
In Q2 2024, Latam revenue reached €62.6m, marking a year-on-year increase of 21.8% and leading it to become Betsson’s second largest market by revenue.