Betfred to Cease Operations in Ohio and Maryland

Details of Maryland and Ohio Departures

Last month, Betfred exited Maryland’s online and retail betting market, driven by its position as the tenth-lowest handle out of the 13 licensed sportsbooks in the state.

The company closed its physical betting location on June 30 and plans to shut down its digital platform on July 31.

Bettors in Ohio will be able to make deposits until July 31 and place bets until August 14. All accounts must be closed by August 31, and any balances not withdrawn by that date will be issued by check within 30 days.

Despite recent withdrawals, Betfred continues to operate in several other states, including Arizona, Colorado, Iowa, Louisiana, Nevada, Pennsylvania, Virginia, and Washington. Betfred’s goal is to focus on the regulated market where the company retains its presence.

Ongoing Markets Consolidation

Betfred is not the only online sports betting operator that leaves Ohio and Maryland, as SuperBook Sports decided to exit eight U.S. states, including Ohio and Maryland as well.

None of the operators had considerable market shares in those states, however, Betfred and Superbook departures from Ohio mean that Bengals Cincinnati Bengals and F.C. Cincinnati are losing their betting partner.

Overall those moves are part of a broader trend in the U.S. markets. Operators that struggle to get even a small part of the state’s OSB cake, decide to exit from the market, resulting in more and more notable consolidation.