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Betfred will cease its operations in Virginia on October 21. This announcement, found on the Betfred Sportsbook website, means the British bookmaker is already stopping new user sign-ups, deposits, and wagers across Virginia. The restrictions took effect at 10:00 PM EDT on Tuesday.
The company plans to handle all remaining wagers by offering early cashouts at fair market value on October 21. If users do not withdraw their balances by this deadline, Betfred will send remaining funds via check within 30 days.
Betfred’s decision to exit Virginia marks the fifth large-state market where it has chosen to discontinue business. Previously, the operator announced its plans to shut down operations in Arizona, set for November 4. This decision reflects Betfred’s inability to expand its market share or boost profits in the region.
Arizona has been one of the top states for sports betting, ranking among the top seven by handle. However, Betfred’s departure adds to a growing list of sportsbooks that have also left Arizona this year. WynnBET left in February, while Unibet and Betway exited in June.
Beyond Arizona and Virginia, Betfred has exited other key online betting markets, including Ohio, Colorado, and Maryland. Despite these closures, the company continues to operate in some locations. It still offers mobile betting in Iowa, Virginia (until October 21), and Pennsylvania, and maintains physical sportsbooks in Louisiana, Nevada, and Washington State.