- PointsBet has launched their mobile sports betting app in Colorado
- The Australian based company has inked sponsorship deals with several Denver pro sports teams and the University of Colorado.
- PointsBet has opened a second US office in Denver.
Australia’s PointsBet was one of the first entrants into the Colorado betting market and they’ve been extremely active establishing a visible presence there. They’ve signed sponsorship deals with several Denver pro sports teams including the NHL Colorado Avalanche, the NBA Denver Nuggets and the Colorado Mammoth of the National Lacrosse League (NLL). They’ve also signed a somewhat controversial deal with the University of Colorado. They’ve also set up a second US office in Denver’s LoDo district. The one thing they *hadn’t* done until recently is actually launch a mobile or retail betting presence in the Centennial State.
That is no longer the case. PointsBet app has gone live in Colorado at https://co.pointsbet.com and you can check out their wagering offerings and download their Android and iOS app. Here’s the ‘elevator pitch’ on PointsBet from the Built In Colorado job recruitment website:
PointsBet is an Australian founded, cutting edge online bookmaker successfully taking on the international players that have dominated the market in recent times. We are a major disrupter to the online wagering industry, by offering our proprietary Points Betting in addition to our expansive prop, and traditional markets.
I don’t know if you can accurately say that a company that has signed a partnership deal with NBC Sports is ‘flying under the radar’ but they don’t seem to get the same level of mainstream run that DraftKings, FanDuel and Penn National’s Barstool Sports. With the addition of Colorado they’re now live in five states including Illinois, Indiana, Iowa and New Jersey. They were one of the first betting companies to recognize the insane potential of the Colorado market and they made a conscious decision to ‘plant a flag’ in the state. Chief commercial officer Eric Foote explained to the Denver arts and entertainment newspaper Westworld why PointsBet is so bullish on the state’s betting ecosystem as well as their adopted home town:
“The team made a very conscious decision last fall to plant our flag here and call this home. The market itself and the opportunity to attract top-notch employees, specifically as you think of product and development,” Foote says. “We are one of very few that own our technology from front to back. We think that sets us apart.” He refers to the Denver area, including Boulder, as a “mini Silicon Valley”; PointsBet also has offices in New Jersey, Illinois, Australia and the Philippines.
This is something that Colorado gets that few other states do. Most states completely bungle the massive economic potential of legal sports betting and are content to make it just another gimmick game for their lottery. Colorado, on the other hand, has created a sports betting ecosystem that is not only great for players but is attracting new business and investment into the area. Obviously there’s much economic development that is in stasis until the COVID-19 pandemic can get some resolution but Colorado is in a position to challenge Nevada and New Jersey as the epicenter of the US sports betting industry.
So far there’s been no information on a potential PointsBet retail presence in the state but that component of Colorado sports betting has been slow to develop due to the COVID-19 pandemic. PointsBet operates under the master license of The Double Eagle Hotel & Casino in Cripple Creek and it wouldn’t surprise me to see a retail sportsbook and/or betting kiosks there before the end of 2021. Although the bulk of the Colorado sports betting industry is and always will be mobile based you can expect to see a renewed focus on retail sportsbooks once the coronavirus pandemic is under control.
It won’t be long before PointsBet has some competition with Aussie roots setting up shop in Colorado as well. PlayUp recently raised $25 million in investment capital targeted for their US expansion. They’ve already been licensed by the Colorado Division of Gaming and will operate under the master license of the Bull Durham Casino in Black Hawk.
When you consider where the Colorado sports betting ecosystem is six months in from their launch you have to keep in mind that they went live right in the thick of the gaming industry shutdown necessitated by the COVID-19 pandemic. Most observers suggested that there was no way that the state would be ready to launch sports betting on May 1 but they did just that and haven’t looked back. With the addition of PointsBet there are now 16 companies with mobile apps licensed by the state’s Division of Gaming along with the tribal run Sky Ute Casino Sportsbook. That’s a total of 17 mobile apps to go along with 12 retail locations. There are a number of other companies ‘waiting in the wings’ including WynnBET, Tipico and Bet365.