The state of Colorado is planning to be one of the latest to join legal sports betting with the official launch of the industry expected in late April.
Colorado Gears Up for Sports Betting in Coming Months
Colorado has missed out the big sports betting bonanza that is the Super Bowl where estimated $7 billion have been wagered on the final game of the NFL season and millions of chicken wings been gorged upon.
True, Colo has been rather slow to adopt sports betting, similar to Tennessee, another state that had to missed out on Super Bowl LIV.
Yet, things are finally looking up.
With 90 days left until the state legalizes its sports betting industry, sportsbooks would most likely miss out on March Madness as well, or at least launch on time to bid it a quick farewell – but it’s all worth it locals believe.
Lawmakers and business people are excited at the opportunities that a legalized sports betting would bring to the state.
Sean Demeule, VP and general manager at Ameristar casino in Black Hawk, shared that everyone was pleased with the determination of Colorado voters to support constitutional amendments in November 2019 and allow lawmakers to proceed with a sports betting framework.
Taking Your Cue from Las Vegas
According to Demeule, Colorado is prepared to take example from Las Vegas and improve on the existing experience. Since PASPA was abolished with a U.S. Supreme Court decision in May 2018, some 19 states have voted in favor of sports gambling.
But few have planned on quite the same scale as has Colorado. The state wants to introduce 33 sportsbooks, or at least prepares as many licenses the Colorado Division of Gaming has said.
Sportsbooks will arrive in the mountain towns of Cripple Creek, Central City and Black Hawk where brands such as DraftKings are already present. Yet, lawmakers are aware that convenience is all that matters when it comes to sports betting and that is why mobile betting options will be available.
Sports fans will be able to use smartphone apps to place their wagers, but geo-tracking software will be put in place to ensure that all betting activities are taking place from within the state borders.
A lot of brands are lining up for a chance to access the future market in Colorado. Not least of all, theScore, a media and gaming giant that is only now making its mark on the United States. British sports betting company Betfred has been another entrant in the state.
The casino teamed up with the Saratoga Casino Black Hawk to set up a joint sportsbook, just one of the few brands now making their claim on Colorado.