Bet365 has confirmed to SBC News that it has exited the Chinese gambling market, which has been reported as one of its largest gambling markets.
This UK-based multinational operator stated that it has conducted a strategic review of its international business. The outcome of the review led the company to cease operations in China and focus on other markets.
A spokesperson for bet365 told SBC News: "bet365 continuously reviews and assesses the markets where it offers services."
"The group has decided to consolidate resources and focus on gaining market share in regions where it can generate sustainable long-term revenue, concentrating on core competencies in core markets.
"As a result, bet365 will soon cease operations in various jurisdictions, including China.
"We reserve all rights."
China is considered a grey market for gambling operators, with the only mature markets being Hong Kong and Macau, the former offering horse racing and football betting, and the latter being one of the largest casino destinations in Asia.
According to strategic consulting firm Regulus Partners, China might have been bet365's last "grey market" and was "likely" the company's second-largest market after the UK in 2014, although the situation may have significantly changed in recent years.
bet365 Chasing the US Market
This move by the sports betting company may reflect some significant trends in the international gambling industry. Many companies are shifting to compete only in regulated markets, thus reducing activities in grey markets.
The widespread promotion of gambling regulations globally makes it financially more viable for gambling companies to avoid grey markets and only operate in white markets. For example, Brazil recently introduced regulatory measures, and the company is one of the 71 gambling license holders in the country.
The move away from grey markets may also be related to bet365's broader ambitions, as the company has been focusing on one of the largest and fastest-growing regulated markets globally—the United States.
Currently, 38 of the 50 states in the US have regulated gambling markets, and bet365 has been rapidly expanding within these states. Earlier this month, the company launched its 13th market in Illinois.
Recently, the operator seems to be preparing to further expand its operations, this time in Missouri. This week, the MLB team St. Louis Cardinals in Missouri signed a partnership agreement with the company, which will allow the company to enter the gambling market in Missouri once it is launched.
Bill DeWitt III, President of the St. Louis Cardinals, stated: "We are thrilled to welcome bet365 as the official mobile sports betting partner of the club. This partnership adds a new and exciting element to the fan experience, where fans can enjoy this element at Busch Stadium or wherever they watch and follow Cardinals baseball games."
Missouri will become the 39th state to launch a regulated gambling market, following a statewide referendum passed in the November elections, where voters approved the measure. However, as the state continues to draft regulations for the upcoming sports betting, the market is expected to launch in the second half of 2025.
As bet365 prepares for the launch and licensing, it has already begun to solidify its marketing foundation. The deal with the Cardinals will provide the company with sponsorship opportunities with one of the most followed teams in the state.
"bet365 is honored to announce its partnership with the St. Louis Cardinals, one of the most legendary teams in Major League Baseball. We are excited to bring a world-class mobile sports betting experience to Missouri," said a bet365 spokesperson.
