Summary

Unibet, an established European betting brand, made a strategic entry into the U.S. sports betting market following the repeal of PASPA. They launched online sportsbooks and casinos in several states, including New Jersey, Pennsylvania, and Virginia. Despite offering a reliable product and competitive features, the brand struggled to gain significant market share against larger domestic operators. This led to a significant shift in strategy by its parent company, the Kindred Group, resulting in the eventual withdrawal from the entire North American market.

Unibet in the U.S.: An Overview

Unibet was licensed and active in a handful of states, most notably New Jersey, Pennsylvania, and Indiana. Their product was known for being clean, reliable, and user-friendly, with a focus on core sports betting and online casino games. The platform provided a solid user experience, but its marketing efforts and market share remained in the low single digits. Ultimately, the cost of competing with industry giants like DraftKings and FanDuel proved to be too high for Unibet's long-term business goals in the region.

Why Unibet Exited the US Market

Unibet's parent company, Kindred Group, announced its decision to exit the North American market in late 2023. The move was part of a larger strategic review aimed at cutting costs and refocusing resources on core European and Australian markets where the company had a stronger foothold. Kindred's CEO stated that while the U.S. market was exciting, the path to profitability was "unreasonably long," and significant investment would be required to close the gap with market leaders. The exit was projected to result in approximately £40 million ($50 million) in annual cost savings for the company.

Unibet US Operations: The Timeline

Unibet's withdrawal from the U.S. was a phased process that began in late 2023 and was completed in mid-2024. The company gradually ceased operations on a state-by-state basis.

Late 2023: Kindred Group publicly announced its plan to exit the market by the end of Q2 2024.

May 2024: Unibet ceased operations in New Jersey.

June 2024: Unibet officially withdrew from Pennsylvania and the remaining states where it was active. The company stopped accepting new bets and deposits well in advance of the final closure dates, giving customers a period to settle their accounts and withdraw funds. https://www.legalsportsreport.com/153412/parent-unibet-pulling-out-of-us-cutting-jobs-to-improve-profit/

Account Balances & Withdrawals

Following the announcement of its exit, Unibet provided customers with clear instructions on how to withdraw any remaining funds from their accounts. The company removed minimum payout requirements, allowing users to withdraw their entire balance regardless of the amount. Customer support channels remained active during the wind-down period to assist with any issues. All open wagers were settled, and any remaining bonus funds were set to expire by the final closure dates. The company has since ceased all operations in the U.S., and any unclaimed funds or account information are no longer accessible.

The Unibet App: A Look Back

The Unibet mobile app was praised for its clean design and responsive performance. It offered live streaming for thousands of events, competitive odds, and a wide range of betting markets, including live betting and prop bets. The app was available for both iOS and Android users and was the sole platform for accessing the Unibet sportsbook in many states. However, it lacked some of the more advanced features and deeper betting markets offered by rival apps, which hindered its ability to attract and retain a larger user base.

Alternatives to Unibet in the U.S.

For former Unibet customers seeking a new sportsbook, there are a number of excellent alternatives in the U.S. market. Many of these operators offer a strong combination of competitive odds, extensive betting markets, and generous welcome bonuses. Some of the most prominent betting platforms include:

Draftkings: Industry leader in the U.S. with highly-rated apps, a wide variety of betting options, and aggressive promotions. https://oddsindex.com/sportsbook-reviews/draftkings

FanDuel: Another Industry leader in the U.S. strong tech, huge choice of bets, and usually promotions. https://oddsindex.com/sportsbook-reviews/fanduel

BetMGM: A strong brand with a robust app and a quality loyalty program. https://oddsindex.com/sportsbook-reviews/betmgm

Each of these platforms offers a compelling alternative to Unibet and is a great option for bettors looking to continue wagering in the U.S.

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