Add Betfred Sportsbook Colorado to the list of smaller online sports betting apps that are leaving the marketplace.
The company informed customers that it will “cease online operations” at 10 p.m. MT on Saturday, Aug. 31. The date corresponds with the first full Saturday of college football betting.
Ideally, Betfred would like Colorado sports betting customers to cash out before then.
“Online patrons are asked to log in and request withdrawals prior to this date,” the company told its users. “Balances not withdrawn by Aug. 31, 2024, will be issued a check within 30 days of ceased operations.”
Retail patrons who have a pending wager or a winning betslip need to follow the mail-in redemption process. They’ll find the instructions on the back of their betslip.
“A check will be mailed within 30 days of receiving the ticket,” Betfred Sportsbook Colorado told its in-person customers.
Betfred Sportsbook Colorado Following a Familiar Path
Betfred’s Colorado shutdown matches the sunset date in Ohio, where Buckeye State customers also have an Aug. 31, deadline to access the app and close out their Betfred account.
The company previously left Maryland and discontinued its retail operations in Louisiana. Online Maryland customers had a July 31 deadline to withdraw their funds.
Betfred joined the Colorado and Iowa markets on Sept. 10, 2020.
“Launching Betfred Sports online betting in Colorado and Iowa in time for the football season is a significant milestone for us,” Betfred USA Sports COO Bryan Bennett said in an announcement four years ago.
Betfred’s Not Dead Everywhere
Betway, 888 (SI Sportsbook), Unibet, and PlayUp are among the international sportsbooks that struggled to establish a foothold and ultimately left the US market.
Betfred hasn’t reached that point yet. It’s still an online betting option in:
- Arizona
- Iowa
- Virginia and
- Pennsylvania (through the Wind Creek Bethlehem-branded sports betting app).
Customers can place retail-only bets in Nevada at Mohegan Casino inside Virgin Hotels Las Vegas and in Washington at Portage Bay Bar inside Silver Reef Casino Resort.
The Colorado sports betting market will be down to 16 sportsbooks by the start of September. Three of Betfred’s competitors — Betway, SuperBook Sports, and Tipico — have left the Centennial State so far in 2024.
Colorado accepted $350.4 million in June 2024 bets, according to the latest Colorado Department of Revenue report.
Betfred Sportsbook remains a well-known brand in the UK. In 1967, brothers Fred and Peter Done opened their first betting shop in Salford, England.
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