Content on this page may include affiliate links. If you click and sign up/place a wager, we may receive compensation at no cost to you.
SuperBook Sports ceases non-Nevada online operations
The company will halt its offerings in eight states it had been operating in. The sportsbook will continue to operate only in Nevada.
Another sportsbook operator bites the dust.
In a news dump on Friday night, SuperBook Sports announced it would no longer be taking bets or deposits in Arizona, Colorado, Iowa, Maryland, New Jersey, Ohio, Tennessee or Virginia, as of July 19 at 8 p.m. ET. The sportsbook operator urged all impacted bettors to withdraw their funds as soon as possible. It’s unclear how long-term future bets will be graded.
The company will continue to operate in Nevada with both its mobile application as well as its retail location at Westgate in Las Vegas. The Westgate SuperBook is one of the more popular sportsbooks on the Las Vegas strip, but the company failed to parlay that success to the online landscape nationwide.
SuperBook really struggled
One quick look at the data will showcase that SuperBook shutting its doors is no real surprise.
While the company gave no reason for their departure in the announcement, it’s quite obvious the operator was making little-to-no progress in terms of attracting customers in non-Nevada states.
SuperBook’s best performing state was New Jersey, where it accounted for just 0.3% of the gaming revenue. The company had a market share of 0.1% or less in Arizona, Iowa, Maryland, Ohio and Virginia.
One potential reason for SuperBook’s struggles was its inability to offer its famous contests online. Bettors from all over the world fly into Las Vegas to sign-up for the SuperContest, a season-long NFL against-the-spread pool with hundreds of thousands of dollars in prizes. The Federal Wire Act made offering these contests online impossible.
Another online operator goes down
SuperBook is the third company to announce it is ceasing operations in the last two weeks. Betway and SaharaBets left the industry earlier in July. The three companies join a long list of failed operators including UniBet, FoxBet, Sports Illustrated Sportsbook and Fubo Sportsbook. In total, over a dozen operators have stopped accepting bets since the repeal of PASPA in 2018.
With the way the industry is trending, it would be no shock to see more operators join the graveyard in coming months and years. FanDuel and DraftKings Sportsbook continue to dominate the industry, combining to accept nearly 75% of the bets placed in the country.
SuperBook was nowhere near competing with FanDuel or DraftKings. It was considerably behind both Caesars and BetMGM Sportsbook, who combine to make up just 15% of the market share. In fact, it’s hard to say that SuperBook was even competing with the third tier of operators which includes companies like BetRivers and Fanatics.
With so much distance between SuperBook and the top of the market, the company decided the juice was no longer worth the squeeze. The industry will likely continue to consolidate as more companies reach the same conclusion.
