Super Group has confirmed that its Betway brand is leaving the Portuguese market. The local regulator approved the move on Friday after Betway formally requested to exit. The company entered Portugal in 2020 and joined the market group APAJO in 2021, but its licence was up for renewal this year, and Super Group chose not to continue.

A Betway spokesperson told iGB, “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.” The company didn’t say if more exits are coming but said it is focusing on regions with stronger growth, including parts of Africa.

Shift toward higher-growth regions

Super Group has confirmed that its Betway brand is leaving the Portuguese market. The local regulator approved the move on Friday after Betway formally requested to exit. The company entered Portugal in 2020 and joined the market group APAJO in 2021, but its licence was up for renewal this year, and Super Group chose not to continue.

A Betway spokesperson told iGB, “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.” The company didn’t say if more exits are coming but said it is focusing on regions with stronger growth, including parts of Africa.

Lessons from India exit

Before leaving the US, Super Group had already exited India in 2023. The decision came after a new online gambling tax of 28 percent of turnover made the market much less attractive for the company.

Betway chief operating officer Kevin Kovarsky explained the move in September, saying, “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.”

Chief executive Neal Menashe later described the company’s approach to leaving unprofitable markets. “Listen, it’s really simple this business,” Menashe said. “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.”

Strong Q3 performance in Europe

Even after leaving Portugal, Super Group posted strong results across Europe in the third quarter. Revenue in the region rose 46 percent year on year, with the UK up 71 percent and Spain up 11 percent, making up 20 percent of the company’s total Q3 revenue, compared to 17 percent a year earlier.

Chief executive Neal Menashe said, “This outstanding performance reflects a combination of regulatory stability, product innovation and enhanced marketing execution.” The Portugal exit appears less like a retreat and more like a careful reshaping of Super Group’s global business.