bet365 Unanimously Approved to Operate Online Sportsbook in Colorado

The online sports betting market in Colorado has a new player. On Thursday last week, the Limited Gaming Control Commission (LGCC) voted unanimously to approve the license for bet365. The British-based online gaming company partnered with Colorado’s Century Casino to obtain its license. No date has been announced regarding a starting date for bet365 operations.

Century Casino and bet365 announced their partnership back in May of last year. The deal between the Colorado casino and the British online gaming operator will last at least 10 years. Century Casino has two brick-and-mortar operations in the Rocky Mountain State. Their locations in Cripple Creek and Central City are both near Denver.

There are a number of highly-rated online casino sites in Colorado already. bet365 will look to take advantage of the state’s progressive gambling laws and a large number of sporting events throughout the year. The rocky mountain state has already experienced a record-setting year in 2021 and is primed for another one in 2022. The sooner bet365 and Century Casino can get their new partnership up and running, the sooner they can join in the fun.

Colorado Will be Second US State with bet365 Operations

bet365 started in 2000 and launched their first sports betting operation in 2001 in Europe. The gambling company is based in the UK and mainly offers casino games and sports betting. Colorado will be the second state in the US that bet365 will have operations in. bet365 has already established operations on the east coast of the US in New Jersey.

The UK gambling site has hit a ton of milestones as they spread across the western hemisphere in the last two decades. Despite having success in numerous other countries, bet365 has struggled to find its footing in the US. bet365 has been trying to expand into the US since 2018 when sports betting restrictions were lifted.

In the last three years, bet365 has only secured operating licenses in two states, New Jersey and now Colorado. They also applied for a mobile sports betting license in New York earlier this year. However, bet365 was not one of the nine companies chosen to start operations in the Empire State.

Part of the reason bet365 has had trouble expanding across the pond may be due in part to the numerous controversies surrounding the company in recent years. In 2014, the UK gaming company was accused of using obscure domain names to avoid censorship in China. They were also fined $2.75 million AUD in 2016 for falsely advertising free bets in Australia. There have also been numerous claims of the company refusing to pay out winnings to players.

Whatever the reason for their slow start, bet365 is hoping that they can get the ball rolling in one of the biggest US sports betting markets. Colorado’s sports betting industry has seen record-breaking numbers so far this year, and it will likely continue to grow. It is also one of the only states in the US that allow players to use mobile sports betting apps.

Online Sports Betting in Colorado

Colorado is an obvious choice for expansion and gives bet365 a gateway to further expansion in the west. The Rocky Mountain state has been one of the fastest-growing sports betting markets in the US due to its relatively relaxed gambling laws. In Colorado, any of the three dozen casinos are eligible to apply for sports betting licenses. The state also allows for online and mobile sports betting options.

As a result, it is no surprise that Colorado boasts a large number of legal sportsbooks. Since legalizing sports betting in May of 2020, a total of 26 sportsbooks have been licensed. Colorado has a wide variety of teams across most professional and collegiate sports leagues, offering residents plenty of options to bet on. The wide variety of betting options also provides bettors plenty of ways to get in on the action.

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bet365’s partner, Century Casino, has already started to establish itself in the sports betting industry. The casino has partnerships with Tipico Sportsbook and Circa Sportsbook. Both of Century Casino’s other partners offer mobile betting options. The deal between bet365 and Century Casino includes a percentage share of net gaming revenue and a minimum annual revenue guarantee to be paid to the casino.

At the meeting last week, the LGCC also approved 19 sports betting vendor licenses. These licenses are given to entities that act or provide services on behalf of sports betting licensees. Some of the sports betting vendors licensed included Betclever, Elias Digital Solutions, and the PGA Tour. The state of Colorado also features 17 retail sports betting operators. The LGCC also approved the renewal of retail and master licenses for four Black Hawk Casinos throughout the state.

Conclusion

Colorado’s sports betting boom continues to attract new operators. Last week, the LGCC met and approved a number of new sports betting licenses. Among them was the license for bet365, a sports betting company out of the UK. bet365 partnered with a local Colorado casino operator, Century Casino, to obtain their license. The current agreement between Century Casino and bet365 is a 10-year partnership.

bet365 is not the first sportsbook operator to be licensed in Colorado and they will not likely be the last. The Rocky Mountain State features over two dozen licensed sports betting operations. Colorado’s gambling legislation also allows for mobile and online sports betting operations. A large number of sporting events across all levels of sports ensures that is almost always something for residents to bet on.

The LGCC has also given approval to a total of 17 retail sports betting vendors since 2020. At their meeting last Thursday, Colorado’s gaming regulators approved 19 new sports betting vendor licenses. They also approved the renewal of master and retail licenses for four Black Hawk casinos. After seeing 2021 revenues shatter records for the most ever, it seems that the legislators are keen to clear the way for another big year in 2022.