Bet365 enters Colorado after license granted
The new year could well be about to start with a bang for UK-owned online gambling operator Bet365, after receiving a sports betting license from the US state of Colorado.
It is news that is being greeted with a great deal of optimism by the Staffordshire-based company after the decision was made unanimously by the state’s Limited Gaming Control Commission, with all five members voting in favor.
As a result, the state will now have 26 online operators, with foreign ones all having a local partner – in the case of Bet365, this is with Century Casino which has sites in Cripple Creek and Central City. In addition to this, Century Casino also has deals in place with Tipico sportsbook and Circa sportsbook.
Increased US presence for Bet365
Colorado becomes only the second US state that has approved online gambling for the company, founded in 2000, with New Jersey being the first, however, they have ambitious growth plans for the US market.
They have also applied for a license in New York after the state passed the mobile sports betting bill, however, they were not selected in the initial 10 operators, which are understood to launch in mid-January.
In just 20 years, Bet365 has become one of the most popular sportsbooks, not just in the UK, but also in Europe, having grown at a staggering rate. It is likely that the company will have its eye on being granted licenses in a number of US states, with the likes of Pennsylvania and Michigan posting strong results on a monthly basis.
Sports betting big in Colorado?
Over the last couple of years, the demand for sports betting in the state has gradually increased, though also, this might be down to the number of franchises that Colorado plays home to as well.
Home to the likes of the Denver Broncos NFL side as well as the Denver Nuggets of the NBA, plus a number of others, it is these that help to attract a substantial amount of bets on a weekly basis.
Already customers can choose from a number of well-established sportsbooks in the state, including DraftKings and FanDuel, which means that Bet365 could well have its work cut out in trying to achieve market share.