Bet365’s exit adds one more crack to a trade group that now looks far more aligned with retail casinos, tribal gaming, and state control than with digital operators chasing new betting-style products.
Another Big Sportsbook Walks Away
bet365 has become the latest major gambling brand to leave the American Gaming Association, following DraftKings, FanDuel, and Fanatics out the door after the group’s hard line against prediction markets.
In a statement, bet365 made its reasoning plain enough. The company said it had stepped back from the AGA because, as a digital-first operator, it sees the group as too focused on the retail casino business. It added that it still values industry partnerships and plans to keep working with regulators and commercial partners across the markets where it operates.
That wording matters. It does not confirm a move into prediction markets, but it does lean into the same divide that has been pulling the industry apart for months: online-first operators on one side, land-based and tribal interests on the other.
Inside the business, that kind of exit usually gets people talking. The immediate assumption is that bet365 may be preparing to move toward prediction markets, even if it has not yet filed for approval with the National Futures Association.
The AGA’s Member List Tells the Story
A year ago, according to archived versions of the AGA website, DraftKings, FanDuel, Fanatics, and bet365 all appeared on the group’s core membership page as commercial operators.
By November, DraftKings and FanDuel had both left. FanDuel tied its departure to its expansion into prediction markets, saying that move clashed with the AGA’s stance. Fanatics followed in mid-December after becoming the first major sportsbook operator to launch a prediction-market product. DraftKings and FanDuel later rolled out branded offerings of their own, DraftKings Predictions and FanDuel Predicts.
This is no longer a one-off membership shuffle. It is a visible realignment.
The supplier side has shifted too. OpenBet and Sportradar both allowed their AGA memberships to lapse in January. Neither company has directly said prediction markets drove the decision, though the timing raised eyebrows. Sportradar CEO Carsten Koerl had already described the space as a growth opportunity during the company’s fourth-quarter earnings call, calling it a fast-moving opening in the US market.
Everi also no longer appears on the AGA membership list, though that may be tied to governance changes rather than the prediction market debate. Michael Rumbolz, the company’s executive board chair, finished his term as AGA chairman in January.
AGA Doubles Down on State and Tribal Control
As the exits pile up, the AGA has become more defined by who remains and what it is willing to defend.
The group’s posture now is firmly rooted in land-based gaming, tribal operators, and the idea that gambling on sports should stay under state and tribal authority. That puts it on a collision course with prediction markets, which many gambling companies see as betting by another name, just routed through a different regulatory lane.
In a December 2025 letter to members, AGA CEO Bill Miller drew that line clearly. His message was that sports event contracts are gambling, and gambling should be regulated by states and tribes. He also said the organization would continue defending that structure in 2026.
That stance may play well with casino groups and tribal stakeholders, but it leaves less room for online operators experimenting with products that sit outside the usual sportsbook framework.
Tech-First Operators Keep Testing the Edges
The companies pushing hardest toward prediction markets are mostly the ones built for digital distribution, not the ones built around casino floors, hotel towers, and regional footprints.
That includes daily fantasy operators like Underdog and PrizePicks, both of which have chased the space aggressively. Underdog even gave up its North Carolina sports betting license as part of that shift, a move that showed just how real this pivot has become.
By contrast, legacy casino brands with major online arms, including Caesars and MGM, have not publicly made a serious move into prediction markets. Caesars is no longer an AGA member either, though that departure dates back to before May 2020, well before prediction markets became the latest industry obsession.
BetMGM has been more vocal about the tension. CEO Adam Greenblatt has said there is a conflict in remaining part of industry groups that include companies offering sports-event contracts, such as the Sports Betting Alliance and the Responsible Online Gaming Association. Even so, BetMGM is staying put for now.
