British online gaming operator bet365 is ready to take on Colorado’s online gaming market. The company was approved last Thursday by the state’s Limited Gaming Control Commission (LGCC) to provide online sports betting, but a period of adjustment will be needed. No launch date has been announced.
bet365 Extends US Reach Via Colorado
The bet365 license approval is temporary; however, this is common practice for new operators in Colorado. Richard Nathan, chairman of the LGCC, said that the company could be granted an operating license once it has been subject to background investigations by authorities. The five LGCC commissioners were not able to comment on the licensing decision but said in an announcement that the license was unanimously approved.
Colorado now has 26 licensed online and 17 retail sportsbook operators. Colorado will become bet365’s second state in the US, given that it already operates an online sportsbook in New Jersey. It also attempted to secure a license in New York, but not among the nine operators selected.
LGCC Hands Out Several New Licenses
The LGCC commissioners approved four Black Hawk master and retail casino license renewals. These went to Ameristar Casino Black Hawk, Bally’s Black Hawk North. Bally’s Black Hawk East and Bally’s Black Hawk West. All four were also unanimously approved by the commissioners.
Additionally, 19 sports betting vendor licenses were approved by the regulator. These licenses cover entities that offer services or act for sports betting operators. Among them are Betclever and Elias Digital Solutions, a sister company of Elias Sports Bureau, as well as the PGA Tour and Don Best Sports.
Colorado sports betting has had a lot of success and saw a record-breaking October. According to the state, October saw the largest handle since May 1, 2020, when legal sports betting launched.
The state reported that October 2021’s total handle saw a 20.36% month-over-month increase and a 133.23% rise from October 2020. The record-breaking month was made possible by the bets on football. Nearly half (45.4%) of all October 2021 bets were placed on NCAA and NFL football games.
Of all the wagers, 98% were placed online. This is further proof that online sportsbooks are much more popular than their land-based counterparts.