Exclusive iGB Interview Reveals Super Group’s Reason for having Betway Leave Portugal

An iGB interview with a Betway spokesperson has revealed the operational direction in which Super Group has decided to take the brand. The spokesperson shared that Super Group had decided to have Betway exit the Portuguese iGaming market.

Soon after the interview, the regulator in Portugal approved the request Betway had made to leave. Super Group had the option of extending its license as its expiration date had been set for 2026. In 2021, the company joined APAJO, Portugal’s main marketing industry body, after having entered the country only a year prior.

Super Group has decided that they would rather prioritize “growth areas with more potential” and lean into other already established markets. The company is currently shifting its focus to other regions, including Africa, as it is touted as a higher-growth geo.

During the interview, the Betway spokesperson told iGB this: “After a thorough review, we have decided to relinquish our licence in Portugal to focus on existing markets and growth areas with more potential.”

Super Group’s Q3 Shows Great Numbers in Europe

While Portugal has proven hard in a financial sense, Super Group has maintained a good overall operational capacity and results in the rest of Europe. Super Groups’ revenue surged by 46% year-over-year, with markets such as Spain and the United Kingdom noting a sustained growth.

The United Kingdom registered a 71% revenue jump for the company, followed by Spain with 11%, and Europe brought in a 20% increase to the company’s revenue overall.

Previous Markets Super Group Chose to Leave

Over the last couple of years, Super Group left several markets due to either a decline in profit or a not high enough return on investment.

Last year, the company exited the US despite great projections for the following year, as the company expected results would further shrink with the incoming regulations.

In 2023, Super Group left the Indian market after a 28% online gambling tax rate was introduced.