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Super Group has confirmed that its Betway brand will no longer operate in Portugal, marking a formal exit from the market.
The withdrawal followed a request made to the national regulator, which approved the termination of the license last Friday. The company explained to iGB that its focus is shifting toward existing regions and what it described as “growth areas with more potential.”
A spokesperson added, “After a thorough review we have decided to relinquish our licence in Portugal in order to focus on existing markets and growth areas with more potential.”
Betway first entered Portugal in 2020 and became a member of the trade association APAJO the following year. The license was due for renewal in 2026, but Super Group has been directing more of its resources toward higher‑growth regions, particularly Africa, according to iGB reports.
Super Group continue to leave markets
Betway’s departure from Portugal adds to a trail of market exits by Super Group in recent months. The company left the United States last July, a move it linked to regulatory changes that undermined “long-term US expected profitability.”
At an investor day last September, Spencer McNally, head of data and analytics, described the decision as a “great example” of disciplined capital allocation. He explained, “Our financial models did actually project a profit for the USA in 2027 if we stayed. But despite what I’ve just shown you, the US market simply wasn’t projected to meet our return on capital requirements.”
Two years earlier, in 2023, Super Group had already withdrawn from India after a new gambling tax of 28% on turnover reshaped the market. Reflecting on that decision, COO Kevin Kovarsky told investors, “In Q3 2023, we made the tough decision to exit India. We took a short-term hit in revenue and profits, but it turned out to be a blessing in disguise.”CEO Neal Menashe summed up the company’s approach to exits in simple terms, “Listen, it’s really simple this business. You pay X to get the customer in the front door, you deliver Y in retention. If the one less the other is not profitable, then you’re never going to make money.”
