Another operator exits the US market: Betsson to withdraw Betsafe sportsbook from Colorado

Betsson has confirmed it will be winding down its operations in Colorado, where it has been operating under the Betsafe brand. The company will cease its B2C activities in the state by the end of September 2024, a spokesperson told SBC Americas.

Betsafe operations ending by month-end

Betsson has made the decision to discontinue our B2C operations in Colorado, effective at the end of September 2024. As a result, we will not be offering any B2C services in the US for the foreseeable future, the spokesperson said.

The company explained that its Colorado operations were originally intended to showcase its sportsbook technology for B2B purposes while also providing valuable insights into the US online sports betting market.

Betsson launched its Betsafe sportsbook in Colorado in March 2022, almost two years after the state legalised sports betting in May 2020. The company gained market access through a partnership with Dostal Alley Casino and established an office in Denver to support its operations.

Colorado marked Betsson’s first B2C venture in North America, with the company later expanding into Ontario, Canada.

A B2C operation with a B2B focus

Although Betsafe was a consumer-facing sportsbook, the primary aim was to establish Betsson’s credentials as a B2B provider in North America.

At the time of the launch, Betsson’s US Account Director, Lance Agostino, explained: “We knew our strengths as a large operator and what it was going to take to get into the market. We evaluated coming in as Betsson, but quickly realized that would be too costly. Instead, we decided that, first and foremost, we wanted to bring our technology over here to offer to other partners and providers.”

Mr Agostino also remarked to SBC Americas that in procurement processes, one of the first questions asked is, ‘Where else are you live in North America?’ Launching Betsafe allowed the company to establish a presence, proving its capabilities and providing its own platform to refine its offering.

A Growing list of exiting sportsbooks

Betsson’s decision comes just days before the start of the NFL season, making it the latest smaller operator to withdraw from the US market. Recently, Australian operator ClutchBet announced the closure of its BlueBet brand across Colorado, Louisiana, and Iowa. SuperBook also revealed it would be pulling out of all markets except Nevada.

Other operators that have already exited Colorado include WynnBet, Fubo Sportsbook, Unibet Sportsbook, and Betway.

Despite these departures, Colorado remains an active sports betting market, with more than a dozen operators still in operation.