Super Group has formally withdrawn its Betway brand from the Portuguese market after the national gambling regulator approved the cancellation of its operating licence. The decision marks another strategic exit as the group continues to narrow its geographic focus toward markets offering stronger long-term growth potential.

The licence termination was approved last Friday following a request submitted by the operator. Betway will therefore cease all regulated operations in Portugal, despite the licence not being due for renewal until 2026.

A Super Group spokesperson confirmed the rationale behind the move, stating that the company is reallocating resources toward established regions and markets with higher expected returns. After reviewing its market priorities, the group concluded that Portugal no longer aligned with its growth strategy.

Betway’s Short Portuguese Chapter

Betway entered the Portuguese regulated market in 2020 and joined local industry body APAJO in 2021, signalling long-term intent at the time. However, shifting competitive dynamics and capital allocation priorities have since reshaped the group’s outlook.

While Portugal remains a stable and well-regulated jurisdiction, it has not featured prominently in Super Group’s future growth narrative, particularly as the company increases its exposure to faster-growing regions such as Africa.

Pattern of Strategic Market Withdrawals

The Portugal exit follows a series of deliberate market withdrawals by Super Group over the past two years. In July 2024, the company exited the US market, citing regulatory developments and an inability to meet internal return-on-capital thresholds.

Speaking at an investor day, Super Group executives acknowledged that while the US business could have turned profitable over time, it failed to justify the level of investment required. The group framed the decision as disciplined capital management rather than a reaction to short-term losses.

Earlier, in 2023, Super Group also withdrew from India after the introduction of a 28% gambling tax on turnover significantly altered the market’s economics. Management later described that decision as painful in the short term but strategically beneficial in hindsight.

CEO Neal Menashe has consistently emphasised a straightforward investment philosophy: if customer acquisition and retention economics do not align to deliver sustainable profitability, the market no longer makes sense to pursue.

Focus Shifts to Higher-Growth Regions

With Portugal now added to its list of exits, Super Group continues to sharpen its international footprint. The company has repeatedly highlighted Africa as a priority region, alongside selected regulated markets where scale, margins and regulatory clarity support long-term value creation.

The Betway licence surrender reinforces a broader trend among international operators: prioritising fewer, higher-performing markets rather than maintaining wide but capital-intensive global coverage.

Sources: iGaming Today