SBC News Voice of the Sports Betting Industry
Bet365 has confirmed to SBC News that it has withdrawn from China, which, according to some sources, has been one of its largest betting markets.
The UK-based multinational operator states that it has conducted a strategic review of its international operations. This review concluded with the firm opting to cease activity in China and focus on other markets, it said.
“bet365 continually reviews and assesses the markets to which it offers its services,” a bet365 spokesperson told SBC News.
“The Group has decided to align its focus to its core competencies in its core markets by consolidating its resources to centre on gaining market share in regions that provide long-term sustainable revenue.
“As a result, bet365 will shortly cease operations in various jurisdictions including China.
“All of our rights are reserved in full.”
China is a grey market for betting operators, with the only established, regulated betting sectors in the country being Hong Kong and Macau, the former offering bets on horse racing and football and the latter being one of Asia’s biggest casino destinations.
According to Regulus Partners, a strategic advisory business, China may represent bet365’s last ‘dark grey market’ and was ‘probably’ the company’s second-largest market after the UK back in 2014, though the picture has likely changed significantly over recent years.
bet365 chasing US podium spot
The sportsbook’s move may be indicative of some notable trends in international betting. Many companies are shifting towards competing in regulated markets only, and as such are scaling down activity in grey ones.
The wider rollout of regulated betting globally has made it much more financially feasible for companies to shun the grey and embrace only the white markets. The recent regulation of Brazil, for example, and the company is one of the 71 licence holders in the country.
The move away from the grey will also likely link in with bet365’s wider ambitions which have seen the firm focus its efforts on one of the world’s largest and fastest growing regulated markets – the US.
There are now 38 out of 50 US states with regulated betting markets, and bet365 has been expanding across these jurisdictions at a rapid pace. It secured its 13th state launch earlier this month, setting up shop in Illinois.
In a more recent development, the operator seems set to expand its presence even further, this time in the state of Missouri. The St Louis Cardinals, a Major League Baseball (MLB) team in the state, inked a partnership with the firm this week which should grant it access to the Missouri betting market, once this sector launches.
“We are thrilled to welcome bet365 as the club’s official mobile sports betting partner,” said Bill DeWitt III, President of the St. Louis Cardinals. “This partnership adds a new and exciting element to the fan experience which can be activated at Busch Stadium or any place that fans watch and follow Cardinals baseball.”
Missouri is set to become the 39th state to launch a regulated betting market after a state referendum saw voters approve the move during the November general election. Launch is expected in the second half of 2025, however, as the state continues to codify regulations for incoming sportsbooks.
As bet365 prepares for launch and licence acquisition, it has already moved to cement a marketing foundation. Its deal with the Cardinals will grant the company sponsorship exposure with one of the most widely followed franchises in the state.
“bet365 is proud to announce our partnership with the St. Louis Cardinals, one of the most storied franchises in Major League Baseball. We are excited to bring a world class mobile sports betting experience to the Show-Me-State,” a bet365 spokesperson said.
