Unibet is Exiting U.S. Sports Betting Market: Lost in the Mix
Unibet this week became the first European gambling firm to announce a complete exit from the U.S. sports betting market in a sign that companies simply cannot compete with the likes of a FanDuel or DraftKings, unless maybe they are linked to one of the biggest sports media outlets (think ESPN Bet).
Unibet's troubles are well known to Gambling911.com readers. Our own Thomas Somach regularly reported on extended downtime with his local Unibet operated retail sportsbook in Eastern PA. The mobile app also experienced downtime, even while major sports events were taking place.
Charlie Horner of SBC was among the first to break the news.
"In what is possibly the biggest full US exit in the post-PASPA repeal age, Kindred has announced a full North American market retirement by Q2 2024.
"Unibet will pull out of Ontario, Arizona, Indiana, New Jersey, Pennsylvania and Virginia in the next seven months after struggling to be a major player in an incredibly competitive region.
"Despite rolling out its tech stack earlier this year, it seemed inevitable that a full exit would be on the cards after the group left Iowa in Q4 2022.
"The US market saw minor operators exit in 2022 but, in Kindred, a major European player is calling it quits stateside.
"Is further market consolidation on the way?"
In April, Kindred received final approval for its proprietary platform from the New Jersey Division of Gaming Enforcement.
Henrik Tjärnström, CEO of Kindred Group, applauded the move at the time.
“I am very pleased that we are now able to launch our own Kindred platform in New Jersey, and I am immensely proud of everybody at Kindred who has made this possible. Introducing the Kindred platform to our customers in New Jersey will provide the entertainment and experience enjoyed by our customers in Europe. We are now finally able to show off our true Unibet product. I also want to thank the NJDGE for a professional collaboration during the approval process”.
- Frank Doyle, Gambling911.com
