Betsson Group, the Swedish gaming giant, has decided to shut down its Betsafe Sportsbook operations in Colorado by the end of September 2024. This move is part of a broader strategy, reflecting European operators’ challenges in the competitive US sports betting landscape. All in all, four sportsbooks shut down operations in Colorado during September, and Betsson’s exit raises questions about the sustainability of European operators in the US, as the market is being consolidated with many operators exiting the US market this year.

A Betsson spokesperson confirmed the news:

“Betsson has decided to discontinue its B2C operations in Colorado (USA) at the end of September 2024. So, for the foreseeable future, we will not have any B2C offerings in the US. As communicated initially, our B2C operations in Colorado served primarily to display our sportsbook for B2B purposes and to provide us with valuable first-hand insights into the dynamics of the US online sports betting market.”

Betsafe entered the Colorado market in March of 2022, hoping to capture a share of the ever-expanding sports betting space. Still, as more and more US states are embracing legalized sports wagering, new sportsbook providers have flooded the market, making it difficult for smaller operators to gain a foothold. Betsson’s choice to cease B2C operations in Colorado indicates the structural difficulties non-native brands face that rely heavily on brand recognition and marketing to attract customers. Before the Betsafe sportsbook launch, Betsson U.S. Account Director Lance Agostino said:

“We knew our strengths as a large operator and what it would take to get into the market. We evaluated coming in as Betsson, but quickly realized that would be too costly. Instead, we decided that, first and foremost, we wanted to bring our technology over here to offer to other partners and providers. One of the first questions we get asked in RFPs or procurement processes is ‘where else are we live in North America?’ So, we decided it was probably more pragmatic and faster to go ahead and get live ourselves with the Betsafe brand, so we are able to play in our own sandbox.”

In the past year, the Colorado sportsbook market has seen notable service providers’ departure, highlighting the intense pressures even well-established brands can experience in this rapidly evolving sector. Betsson is the second major operator to exit the state within a short timeframe, along with multiple smaller brands, generating a fair amount of speculation regarding the future of such companies in the US market. While Betsson has been expanding its operations across various jurisdictions, Colorado has presented unique difficulties.

One critical factor impacting Betsson’s decision is the US states’ changing regulations and licensing requirements. As regulations shift and evolve, companies must adapt quickly to maintain compliance and operational effectiveness, which can strain resources. Despite these challenges, Betsson remains committed to other territories where it has established its presence, showcasing its adaptability with a strong portfolio of products and services designed for various gaming preferences.

Another factor is international operators’ marketing and promotional budgets in America. Companies often invest heavily in customer acquisition, but sustaining that momentum can prove hard as consumer preferences shift. Betsafe’s marketing efforts in Colorado may have been significant, but the fierce competition with homegrown brands like FanDuel and DraftKings made them less effective.

Industry analysts have suggested that Betsson’s closure of Betsafe could open up discussions about potential mergers or collaborations in markets where maintaining exclusive operations is not yielding expected returns. As operators continually refine their approaches, the US sports betting landscape remains fluid.

Ultimately, Betsson’s withdrawal from the Colorado market through Betsafe is representative of the larger challenges European gaming companies face in the US. The focus now shifts to how other operators respond to these challenges and whether they can capitalize on the evolving market conditions. As Betsson realigns its focus and resources, the implications of such a move will be closely observed by industry stakeholders interested in the future of sports betting in America.

Betsafe’s departure serves as a critical reminder that while ambition and innovation define the sports betting industry, the realities of competition and regulation will always play a pivotal role in determining success.

PlayFame, a brand-new cutting edge entertainment platform dedicated to bringing top-tier free social games to the US, has entered into an exclusive partnership with content creator, cosplay model and streamer Amouranth. Through this collaboration she will stream live-play of the social games, providing her viewers with exclusive content and unique experiences on her channel.

Amouranth, one of the most-watched female streamers worldwide with over 6 million followers on Twitch, was recently recognised as the most-watched streamer on Kick in August 2024.

Her partnership with PlayFame will highlight the platform’s range of online games developed alongside leading providers, while giving her audience exciting opportunities to interact, win, and play together.

Expanding the PlayFame influencer network 

PlayFame is designed specifically for content creators, giving them a new way to monetize their audience by engaging them in real-time gaming experiences. Influencers can sign up, stream games directly to their followers, and offer exclusive giveaways or personalised rewards. It’s a way to deepen the creator-fan engagement while generating revenue through interactive gameplay.

PlayFame is also expanding its influencer network, collaborating with top US creators to deliver exclusive gaming content. In addition to Amouranth, influencers like NG Slot, Jackpot Beauties, and Slot Hopper will offer their fans unique, interactive experiences on PlayFame, featuring exclusive offers, games and giveaways.

The initial roster includes: 

NG Slot  

• A Los Angeles-based gaming influencer with a passion for slot machines, Narek Gharibyan showcases his real-life experiences at casinos and during massive poker tournaments in Las Vegas

Jackpot Beauties 

• A slot enthusiast who creates fun and engaging content on Instagram as she tries her luck on slots around the US

Slot Hopper 

• A vlogger and slot gaming streamer who focuses on fun and entertainment, both online and on-the-ground. She lives to try to land that massive jackpot live

In the near future, any content creators will be able to sign up for PlayFame and monetise their audience through social gaming. The platform’s unique offering includes Gold Coin packages as well as Sweepstakes Coins.

Gold Coin Packages 

Gold Coins allow customers to play PlayFame social games and can be purchased in Gold Coin Packages, which then open up several other perks, including:

• Early access to new games

• Access to exclusive games

• Free Sweepstakes entries

• Access to live chat

Sweepstakes Coins 

The site will also include a free-to-play promotional sweepstakes mechanic, allowing participants to win big with free Sweepstakes Coins. These coins can be obtained for free via several methods but are never available for purchase.

• Daily login rewards

• Purchase benefits

• Social giveaway competitions

• Refer-a-friend

• Entry via postal request postcards

PlayFame have said: “We’ve been so excited about launching PlayFame and getting these fantastic social casino games out there, so we knew we had to partner with someone special to really kick things off with a bang. Amouranthperfectly fits that mould, she is such a big personality and has an incredibly engaged audience – we’re looking forward to a fruitful partnership together.

“The range of social casino games available on PlayFame at launch is something we’re really proud of, but we don’t plan on stopping there. We have big ideas and lots of exciting new games in development: we dream of PlayFame being the premier destination for social casino fun in the US, and this is just the very start of our journey on that road.”

Kaitlyn Siragusa (Amouranth), said: “I’ve always loved social casinos, they’re so much fun and a great way to unwind without the pressures of a regular casino. So, when PlayFame got in touch and asked me to be a part of their launch, it was a no brainer.

“I’ve been able to try out some of the games as they’ve been in development, and I’ve been really impressed with how well they run, but more importantly, with how fun they are. I’ve got a bit of a soft spot for ‘Gates of Olympus’ in particular, but all of the games are great. I can’t wait to start streaming them on my channels.”

PlayFame is just getting started. With plans for continued expansion and new games in development, the platform is set to become the premier destination for online entertainment in the US.

Accel-backed Jetapult, a global strategic investment company in the gaming landscape, takes a major stake in Saudi Arabia based UMX Studio. The company invested $4.5mn in an all-cash transaction.

In addition to acquiring equity, Jetapult will provide capital to support the expansion of UMX’s existing portfolio, expand its audiences across global markets, and build games in new genres.

This will be Jetapult’s first investment in the MENA region, with further investments planned in markets like South East Asia and Europe.

Jetapult’s team of global gaming experts, will help catalyse the studio’s capabilities to enhance user acquisition, scale monetization efforts, and adopt cutting-edge analytics and AI tools through their “Invest & Operate” (I&O) model

Jetapult, co-founded by Sharan Tulsiani and Yash Baid, is backed by Accel Partners, Fireside and JetSynthesys, amongst others. The company aims to support game studios with a scientific approach to sustainable growth in markets such as Southeast Asia, MENA, Eastern Europe, and Latin America, through a $100 million commitment over the next five years.

UMX Studio founded by Mr. Ali Alharbi in 2014, is one of the first homegrown game development studios established in Saudi Arabia. The studio develops high-quality mobile games featuring stunning graphics, engaging gameplay, and suitability for all ages. Their games have garnered over 70 million downloads till date, and the company has shown consistent year-on-year growth, driven by a portfolio of games that consistently top the Apple and Google charts in the region.

The investment comes in the context of the exponential growth of the gaming and e-sports sector in the MENA region with Saudi Arabia representing 39% of the Middle East’s gaming revenue from consumer spending and is the fastest-growing market in the region, according to Sensor Tower, 2024

Jetapult is committed to UMX’s vision of fostering the Saudi Arabian market to become a hub for game development by harnessing Jetapult’s strategic expertise and UMX’s local talent and cultural nuance.

Speaking on the occasion, Sharan Tulsiani, the Co-Founder and CEO of Jetapult said “Jetapult’s investment in UMX goes beyond providing capital; we bring a wealth of proven gaming expertise and cutting-edge technology to this partnership with an aim to enhance gaming experiences across the Middle East’s emerging development ecosystem.”

Mr. Ali Alharbi – Founder UMX stated “This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry. We are thrilled to partner with a globally recognized leader in the gaming investments space. This collaboration will not only accelerate our expansion but also empower us with advanced tools and expertise.”

Mr. Rajan Navani, Chairman and MD, Jetsynthesys  said “The people of India and Saudi Arabia have been trusted partners for trade in goods and global expertise for millennia. This strong legacy has been carried forward in the fastest-growing and digital-first market of gaming through Jetapult’s investment in UMX. This partnership of deep expertise and culture will bring together the gaming and eSports communities in both these youthful markets.”