bet365 vs Underdog reads like a sportsbook-versus-sportsbook question, and three years ago it would have been one. In 2026 it is not. bet365 has spent a quarter-century as a sportsbook, first in the UK and now state by state in the US. Underdog spent a shorter stretch as a sportsbook too, then walked away from it entirely in December 2025. What is actually left under the Underdog name is a DFS app and, since July 2026, a federally licensed prediction-market exchange — two products bet365 does not have any version of.
bet365 vs Underdog, side by side
| bet365 | Underdog | |
|---|---|---|
| What it is | State-licensed US sportsbook, global UK-regulated parent | DFS pick’em app + CFTC-licensed prediction exchange (Predict) |
| Sportsbook status | Live and licensed in 17 states as of Sept. 2026 | Closed nationwide, December 2025 |
| Core license | UK Gambling Commission (55148) + 17 US state sportsbook licenses | State DFS exemptions (Classic Pick’em) + state-by-state license (Pick’em Champions) + CFTC (Predict) |
| Regulatory history | No comparable fine; long-running family-owned operator since 2000 | $17.5M New York settlement, March 2025, over 2020–2022 contests |
| Casino product | New Jersey and Pennsylvania only | None — not offered under any Underdog product |
| Blocked states (2026) | Not licensed outside its 17-state footprint (e.g. CA, TX, FL) | CT, HI, ID, IA, LA, ME, MT, NV, WA |
Is Underdog a Sportsbook Like bet365?
Not anymore, and that is the fact this comparison actually turns on. Underdog operated a real-money sportsbook, then shut it down nationwide in December 2025, settling every open North Carolina wager rather than expand the book further. bet365’s sportsbook is the opposite trajectory — still adding states, live in 17 as of September 2026 including recent additions like Illinois, Kansas, Maryland, Michigan, Missouri, and Tennessee. Anyone landing on this page expecting two active books to compare is working from a premise that stopped being true nine months ago.
Three Underdog products, three different maps. Classic Pick’em runs under the state DFS exemption in roughly 15 states. Pick’em Champions is separately licensed, state by state, starting with New Jersey and Delaware. Underdog Predict is a CFTC-licensed exchange with its own federal and state footprint. None of the three is a sportsbook, and none of the three shares bet365’s 17-state list.
Is bet365 or Underdog More Legit?
Both brands have a real, checkable regulatory record rather than a clean one. bet365 has taken bets since 2001, is still majority owned by the Coates family rather than public shareholders, and holds a UK Gambling Commission license plus its individual US state licenses. Underdog’s legitimacy case includes a $17.5 million fine: the New York State Gaming Commission found its 2020–2022 contests exceeded the scope of a temporary permit, Underdog paid the settlement in March 2025, and it exited New York rather than contest the finding. Paying a real fine and continuing to operate elsewhere is a different story than operating unlicensed.
How Safe Is Each One for a US Player?
Inside bet365’s 17-state sportsbook footprint, the safety picture is simple: one licensed product, one regulator per state, segregated player funds as a condition of that license. Underdog's safety picture needs a product name attached to mean anything — Classic Pick’em, Pick’em Champions, and Predict answer to different rules and different regulators, and a reader asking "is Underdog safe" without specifying which one is asking a question that does not have a single answer.
Which One For Who
A reader who wants to bet a moneyline or a spread against the house has exactly one option here, and only inside bet365’s 17 licensed states — Underdog does not sell that product anymore. A reader who wants pick’em-style DFS contests should be comparing Underdog to PrizePicks or DraftKings Pick6, not to bet365, which has no DFS product at all. A reader curious about federally licensed prediction markets should look at Underdog Predict specifically, alongside Kalshi, rather than either of the products compared here. None of it is a way to make money. 1-800-GAMBLER.