- Sports betting launched in Colorado on May 1, 2020
- Colorado’s sports betting industry is off to a solid start despite the COVID-19 pandemic.
- Over 20 different sports betting companies have or will launch a mobile app in Colorado during 2020.
Colorado sports betting is in the process of becoming the proverbial ’embarrassment of riches’. Although the state’s regulated sports betting market got off to a slow start due to the COVID-19 pandemic they finished the month of May with $25.5 million of handle. With just four sportsbook apps up and running and little else on the board beyond table tennis and Korean baseball that’s a phenomenal number. Every few days there’s an announcement of another betting company entering the Colorado market. 24 different sportsbook companies and counting strongly suggests that the Centennial State will soon become a betting epicenter.
One of the latest entrants is a company well known in Europe but making their first foray into the United States market. Stockholm based Betsson has announced a deal to offer online betting in Colorado partnering with Dostal Alley Casino in Central City. Betsson is planning to launch their mobile app in early 2021 as always ‘subject to regulatory approval’. Betsson AB is the holding company behind the brand and they hold gaming licenses in 12 jurisdictions and employ 1,600 people in 10 offices around the world. That will soon be 11 offices–they’re planning to open an office in Denver to spearhead their entry into the US market. Funny how it works when you do sports betting right like Colorado has–companies move into the state bringing jobs, investment, etc. That’s a much better plan than just making sports betting a gimmick game for the lottery as a number of states have done.
Pontus Lindwall, CEO and President of Betsson AB had these comments:
“I am very excited to reach this milestone, further expanding Betsson’s global reach by entering a new continent through the fast-growing online market in the US. Dostal Alley Casino has more than 60 years of experience of doing business in Colorado and will play an important role in our journey to build US presence. The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices. We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook.”
CinDee Spellman, CFO of Dostal Alley Casino, is excited to be partnering with a big international player like Betsson:
“As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the US as we partner with them for online sports betting in Colorado. With their decades of experience in online gaming we are confident that they will bring the very best experience to players in the Centennial State!”
The Betsson Group operates a number of well known brands including Betsson, Betsafe, Nordicbet and Casinoeuro among many others. In addition to sports betting they offer over 2,500 casino games including slots, table games, live dealer and much more. Based on the press release announcing the deal it looks like they’ll be using the Betsson brand in Colorado and presumably elsewhere in the United States.