Casinos in Colorado Are Finally Beginning to Bounce Back

It’s been several months since Colorado’s commercial casinos were given permission to begin operating again. Unfortunately, the amount of revenue earned from these gambling venues has been considerably less than it was last year. New reports show that the casinos in Colorado are finally starting to bounce back.Shape of Colorado State, Red Casino Chip on Top of State

It’s fantastic news for the state. The casinos here help to boost tourism, provide jobs, and bring Colorado large amounts of revenue every month. Today, we’re going to look at what is contributing to the rise in gambling earnings here.

Let’s get into it!

The US Casino Industry Continues to Struggle Heading into Fall

When casinos around the US were ordered to shut down back in March, many felt things would only remain that way for a couple of weeks. It was an unprecedented move for cities like Las Vegas that rely almost entirely on these casinos. As the weeks went on, it became clear that the casino industry would be severely affected.

Certain areas of the country were hit harder than others. Las Vegas and Atlantic City immediately began looking at ways to safely get casinos open again. Other states made it clear that it would take time to get any crowded casinos, including casinos, open to the public again.

Each state has taken its own approach to reopening casinos. Nevada Governor Steve Sisolak gave casinos the green light to open back up in June. New Jersey waited until July to get Atlantic City up and running again.

New York was the last state to lift its restrictions on commercial casinos. News broke at the end of August that casinos in the state would finally open up in mid-September. Several of these casinos are now operational again.

Some fear that things may be forced to shut down again once the colder weather approaches. Health experts warn that cases are likely to increase dramatically over the next few months. Casino companies will likely do everything they can to prevent another major shutdown.

Over in Colorado, the gambling industry appears to be slowly improving.

NFL Betting and Table Games Are Already Helping the Casinos in Colorado

Many are surprised when they hear that Colorado has one of the largest casino industries in the Western United States. Lawmakers in this state ordered all casinos to shut their doors in March. It wasn’t until June that commercial casinos here were allowed to begin operating again.

The casinos in Colorado took longer to bounce back than others in nearby states. It was tough for the many residents employed inside these properties. Officials inside the three cities where casinos are located have been looking at ways to boost gaming revenue.

Not long ago, a measure was approved to finally allow table games inside the state’s casinos. These have been prohibited over the past few months over fears they attract crowds. Casino owners here claim they are already seeing a major increase in visitors with these games now available.

“Our dealers are really excited to be back at work,” Monarch Casino COO David Farahi said. “We want to make sure that we have a density that still allows for social distancing in the building.”

Sports betting was made legal in Colorado earlier this year. This industry is already helping to boost revenue. With the 2020 NFL season now underway, gambling revenue in the state is increasing rapidly once again.

Things are far from normal for the various casinos in Colorado now operating. Things may never return to the way they were in 2019. Fortunately, it appears that these casinos are seeing an uptick in revenue. Hope is that this continues for the rest of the year.

US Sports Betting Revenue is Expected to Surge This Fall

The popularity of sports gambling has been rapidly increasing around the United States since May. Interestingly, many states have seen record revenue earnings in 2020. It’s a surprising statistic when considering many US sports leagues were completely shut down for several months this year.

On September 10th, the 2020 NFL Season officially kicked off. It’s expected to be one of the most-watched seasons in recent history. Many analysts also expect it to be one of the most wagered on seasons ever.

Sports betting revenue is already increasing with the season now underway. As we just mentioned, casinos in Colorado saw their revenue earnings increase dramatically. Sportsbooks around the country are expected to see an increase, as well.

Some fantastic online sportsbooks are available throughout the entire country right now. One that many football fans are flocking to is Bovada. This site is known for being safe and offering its members a huge range of different NFL odds.

It’s great to see that sports betting earnings are up right now. Casinos certainly need it. Stay tuned for more reports on gambling revenue over the next few weeks!

Do you plan to visit any casinos in Colorado this year? Let us know in the comments section below!

Bet.Works Launches Self-Service Betting Terminals in Colorado

Shape of Colorado State, Red Casino Chip on Top of State
U.S. sports betting technology provider Bet.Works has launched its own branded self-service betting terminals in Colorado. The devices, called Elite Sportsbook, are positioned at the Red Dolly Casino in Blackhawk, Co.

Said Bet.Works CEO David Wang:

“Bet.Works is continuously innovating and leading the way in creating the best sports entertainment products available on the market. Our self-service betting terminals featured at the Red Dolly Casino provide Colorado players with a convenient and simple platform to wager on-property. Bet.Works is very proud to add this guest service technology to our U.S. entertainment portfolio.”

Self-Service Betting Terminals

The GLI certified self-service betting terminals were designed and built by KIOSK Information Systems, a leading provider of self-service kiosks in North America. The ELITE Sportsbook has a dual 22” PCAP displays and a programmable colored LED lighting. It boasts of an intuitive user interface and a comprehensive transaction component. The kiosk integrates scanning, cash acceptance, ticket in/out for independent wagering.

The devices are a product of the partnership between Bet.Works and Elite Casino Resorts. These two companies previously teamed up to bring sports betting technology to Iowa. Last month, the two Iowa casinos where they launched their product contributed a combined 15.2% of the sports betting revenue in The Hawkeye State.

Sports Betting Picking Up in Colorado

Sports betting became legal in Colorado at the height of the COVID-19 pandemic in May 2020 when almost all of sports was shut down. Despite U.S. professional sports leagues like the NBA, MLS, and MLB suspended, it was able to generate a total of $946,741.34 revenue during its maiden month.

With games returning in recent months, Colorado’s sports betting activity has picked up quickly. Revenue grew by 35.8% from the first month or $3.M during June. In the month of July, the total sports betting revenue in The Centennial State totaled $5.2M. With the NFL set to start its 2020 season this month, the numbers are expected to increase further.

Colorado’s Sports Betting Industry is Already Surging

On May 1st, 2020, Colorado became the 18th state to launch its regulated sports betting industry. It’s becoming clear that this was a great move by “The Centennial State.” According to new reports, Colorado’s sports betting industry continues to bring in huge amounts of revenue.Colorado Flag Picture

Sports betting is growing more popular around the country every month. More states are now beginning to take a look at legalizing and regulating this industry. Today, we’re going to check out exactly how much money the sports betting platforms in Colorado managed to bring in last month.

Online Sports Betting is More Popular Than Ever Before

Since March, the entire US gambling industry has been shifting online. Land-based casinos around the county had shut down and more gambling fans began to realize how easy and fun it was to make their wagers online. In many parts of the country, online sports betting is now regulated and taxed.

It’s clear that online gambling is here to stay. Revenue from the industry has been increasing steadily for months. The American Gaming Association recently released a report showing exactly how much money the regulated internet casino and poker industry is generating right now.

According to this report, these casino and poker platforms have already generated $402 million in 2020. That represents a 300% increase when compared to 2019. Incredibly, only a few states currently regulate their online casino industries.

Almost every state has seen its online sports betting revenue increase in 2020. That doesn’t necessarily mean everything is going well, though. Land-based revenue across the country is down considerably. Things are beginning to improve in cities like Las Vegas, yet revenue remains significantly lower than it was last year.

It’s an interesting dilemma for gambling companies around the United States. Many are now focusing more on improving their online gaming operations. State leaders are also beginning to take a closer look at the regulation of this industry.

New reports are now showing how much the sports betting industry over in Colorado is generating.

Here’s an Update on Colorado’s Sports Betting Industry

Lawmakers in Colorado have been interested in legalizing sports betting since PASPA was struck down back in mid-2018. In late 2019, a sports betting bill was finally approved by the House and Senate. Voters approved the bills a short time later. On May 1st, the first state-regulated sports betting platform went live here.

Since that time, this industry has grown immensely. Colorado’s sports betting industry has generated more revenue with each passing month. That’s true once again in July, according to the Colorado Division of Gaming.

The state’s sports platforms generated an incredible $59,183,619.73 in July. That’s a staggering 55% increase from June. As some analysts are pointing out, that includes revenue from the newly-opened brick-and-mortar sportsbooks.

Dustin Gouker, a gaming analyst based in Colorado, gave an optimistic take on the state’s sports gambling market.

“It only took a few days of basketball and baseball games in July to show the demand that is out there in Colorado for sports betting,” Gouker said.  “In just three months, Colorado has established itself as the fifth-largest sports betting market in the U.S, and the number of sportsbook operators in the state is growing rapidly. And with a robust August schedule that includes playoff runs by the Denver Nuggets and Colorado Avalanche, the short-term outlook for the state is excellent.”

There are now eight land-based sportsbooks based in Colorado. 10 different online sportsbooks are operating here, as well. To the surprise of many, baseball, soccer, and table tennis were the most popular sports wagered on in July.

Casinos in Colorado Struggle to Get Back on Track

Colorado is home to a huge number of fantastic casinos. The state legalized Class III casino gambling back in 1991 and now draws in large numbers of gambling fans from nearby states. The vast majority of gaming venues here are located in just three cities.

In March, all the casinos here were forced to close down. It was devastating for the cities that rely on these properties for tourism and employment. By early June, state leaders gave the green light for the casinos to open their doors again.

These properties are now struggling to attract players. Most are now fully operational again, albeit with major safety regulations set in place.

Lawmakers here recently introduced a measure to increase bet limits inside casinos. To qualify for the ballot, 124,632 signatures must be confirmed. The goal is to give more power to the residents who rely on these casinos.

Fortunately, Colorado’s sports betting industry is helping to make up for the lost casino revenue. Revenue from this industry increased dramatically in July. We’ll now need to wait and see how things look in August.

Are you surprised to see how popular sports betting is in Colorado? Let us know in the comments section below!

Many of Colorado’s Best Casinos Will Reopen on June 17th

Colorado is home to a large and successful casino industry. Since March, residents in this state have been asking lawmakers when these gambling venues would be allowed to reopen to the public. Now, it appears we have an answer. Some of Colorado’s best casinos plan to start accepting guests again on June 17th.Colorado Flag Picture

States across the country are starting to allow their casinos to open back up. Fortunately, no major issues have come up in doing so. Today, we’re going to look at which casinos in Colorado will reopen next week.

Let’s get into it!

The US Casino Industry is Now Up and Running

We’re now a week into June and most states have begun to lift their restrictions. In many parts of the country, that means allowing casinos to start operating again. Many state leaders realized that if they didn’t allow these gambling venues to open, many would be forced to permanently close their doors.

Each state is taking a unique approach to this situation. In some areas, such as Oklahoma and California, all of the casinos here are tribal-owned. That means the tribes operating these venues can set their own regulations without needing the state’s approval.

In Las Vegas, lawmakers need to approve each and every reopening proposal. Many of the best casino-resorts in Las Vegas began opening back up on June 4th. According to several reports, tourism rates surged here through last weekend. No serious issues have come up.

Every day, another US casino decides to open its doors. States with higher Covid-19 infection rates are obviously taking a longer time to kickstart their gambling industries. Things are getting better around the country and most feel that the casino industry will be completely back to normal before long.

Colorado is home to many fantastic casinos. The owners of these venues have continued to press lawmakers for more details about when they’re allowed to reopen. Fortunately, a set of plans to open these venues up has just been approved.

Some of Colorado’s Best Casinos Will Reopen Next Week

Colorado’s casino industry is one of the more interesting ones in the country. Here, all of the state’s gaming venues are located in just a few cities. That includes Blackhawk, Cripple Creek, and Central City. Several Native American casinos can be found in other parts of the state.

These venues were initially forced to close down back in March. No one knew how long these regulations would remain in place for. Many of the casino companies here began looking at ways to safely open back up to the public.

State officials were hesitant to set a reopening date. This week, though, that’s beginning to change. The Colorado Department of Public Health and Environment has approved plans that allow casinos in Blackhawk and Central City to reopen with certain restrictions set in place.

As many know, some of Colorado’s best casinos are located in these two cities. Below are some of the guidelines these venues need to abide by.

  • Casinos must limit capacity to 50% of the listed occupancy code.
  • Employees will be monitored daily for symptoms.
  • Offer accommodations for any employees with Covid-19 symptoms.
  • Post signs on casino doors that tell guests with Covid-19 symptoms not to enter.

Casinos in Blackhawk and Central City will be allowed to open up on June 17th. Interestingly, they will only be allowed to offer slot machine gambling. After three weeks, state leaders will decide on whether or not to allow table games to be offered.

The casino industry in Colorado is about to be brought back to life. As many are aware of, the sports betting options here continue to grow more popular.

The Sports Betting Industry in Colorado is Growing Quickly

Nearly half the states in the country have now officially legalized sports betting. That’s thanks to the US Supreme Court striking down PASPA back in May of 2018. Just about every one of these states with regulated sports betting options are profiting massively off this industry. Soon, almost all of Colorado’s best casinos will start operating sportsbooks.

Colorado is known as a very liberal, forward-thinking state. It came as no surprise when lawmakers here decided to legalize sports betting. It then came down to a public vote and was passed in November of 2019.

The first legal sports gambling options became available in this state on May 1st. As many expected, things were highly successful. The state’s regulated sportsbooks managed to bring in $25.5 million last month.

The majority of these wagers were placed on the UFC. The MMA leader managed to become the first major sports league to resume operations in May. It’s since put on several events and is now back on its normal schedule.

Several leagues have recently approved plans to resume their seasons. As time goes on, sports betting revenue in Colorado will continue to increase. The same can be said for casino revenue here!

Are you excited to see some of Colorado’s best casinos to reopen? Let us know in the comments section below.

Sports Betting is Finally Legal in Colorado!

Crowded SportsbookDespite the global pandemic that’s going on and the suspension of major sports that happened because of it, Colorado couldn’t wait to finally launch legalized sports betting.

The Centennial State will officially be open to taking sports bets May 1.

It will still serve as a historic day for sports fans in the state, even though bettors’ options will be severely limited right now. Colorado has bigger future plans to be a robust state for sports betting.

Bronco fans need to look no further than their own backyard to place sports bets anymore, and that’s something worth celebrating even during these challenging times.

Here’s a brief rundown on the road to sports betting in Colorado and what it looks like.

Supreme Court Decision Makes a Way

The 2018 U.S. Supreme Court that ruled that sports betting bans were unconstitutional and needed a revision was a major victory for the sports betting market in the U.S.

Although it took six years of litigation to finally pass, once it did, states like New Jersey took the lead in implementing the legal sports betting market, and soon others quickly followed.

In a bipartisan effort, lawmakers in Colorado referred for a sports betting measure to be added on the Nov. 2019 statewide ballot. That paved the way for a majority of Colorado voters saying “yes” to legalizing sports betting, as well as a 10 percent tax rate on any casino earnings.

What Legalized Betting Means for the State

Different states have their own unique rules and regulations when it comes to legalized sports betting.

For Colorado, a wide variety of sports is available for wagers with the legalization. That spans from major professional sports to the more niche, unheard of sports.

NFL, soccer, track and field, Olympic games, will all be available to bet on, but so will sports like intercollegiate competitions and professional video-game competition, granted that the specific sportsbook creates a wager for them.

Ways You Can Bet

Betting will be done in one of two ways.

The first is betting at physical locations. Once casinos reopen in the state, which is expected to be near the end of May, bettors can drive to them and place their bets on-site.

The other betting option is mobile betting applications, which any phone is Colorado will be capable of doing.

What Kind of Bets Can Be Made?

Wagers will range from simple bets that many sports bettors are already used to seeing claiming team winners, like “The Denver Broncos beat the Miami Dolphins,” but there will also be the option for more complicated bets including wins by a specific point range.

What Kinds of Sports Can Bettors Bet on Immediately?

It’s definitely a unique situation that Colorado has run into with the official launch of sports betting. Many of the sports bettors are used to waging on simply aren’t an option right now.

With that reality in mind, what can bettors in Colorado expect to bet on right now?

Well, right now the main focus seems to be upcoming UFC matches. State gaming officials are also looking to see if virtual NASCAR races will be sanctioned.

And one of the most anticipated sporting events of the month looks like it will be the charity golf match between Tiger Woods and Peyton Manning against Phil Mickelson and Tom Brady.

Stay Tuned

We’re happy to states like Colorado, who have waited patiently for sports betting to arrive on the scene, finally get to be a part of the family of states who has already gotten legal with it.

Although it comes out at a seemingly inopportune time, that doesn’t dull the excitement of legalization and the future of sports betting in Colorado to come.

Are you still placing sports wagers during this offseason for major sports? We’d love to know what you’re betting on.

Hopefully, casinos will be reopening by month’s end, and by Summer, we’ll be able to see some sports can return again.

 

Legal Sports Betting Could End Up Saving Colorado’s Casinos

Late last year, voters in Colorado approved a measure to allow online and in-person sports betting. Many analysts predicted this new industry would be hugely profitable for the state. Some now believe that legal sports betting may end up saving many of Colorado’s casinos currently shut down. Colorado Flag Picture

The first sports betting options will become available here in just a few days. Today, we’re going to discuss how this form of gambling will help casinos in Colorado.

Let’s get into it!

Sports Betting is About to Go Live in Colorado

Colorado is known for having a large and passionate sporting fan base. There are several major professional sports teams here including the Denver Broncos, Colorado Avalanche, and Colorado Rockies. For years, residents in this state have asked for lawmakers to legalize sports gambling.

Up until fairly recently, however, this wasn’t possible. A set of laws called PASPA were set in place for decades that prevented any states other than Nevada from offering sports gambling options. The Supreme Court decided to remove PASPA in May of 2018.

This immediately gave every state in the country the ability to legalize sports betting. Today, more than 20 states have approved legislation to regulate this industry. Colorado voters approved a sports betting bill in November of 2019.

Since that time, officials here have worked to come up with specific regulations for this form of gambling. Both land-based and online sports betting are set to become available. The first sports betting options are now set to launch in this state on May 1st.

Of course, land-based sports betting is off the table right now. All of Colorado’s casinos are currently closed down. Hope is that the online sports wagers placed here will help to provide gambling venues here with some much-needed revenue.

Here’s How Legal Sports Betting Can Help Colorado’s Casinos

As we’ve already mentioned, more than 20 states around the country have now legalized sports gambling. Most of these states are earning an incredible amount of revenue from this industry. Many analysts predict that the sports betting industry in Colorado will be hugely successful.

This may prove to be the only gambling revenue being made in this state for the foreseeable future. All of Colorado’s casinos are currently closed down. It’s still not entirely clear when these gambling venues will be allowed to open again.

It’s an extremely difficult situation for casino companies here. Some of these venues are losing millions of dollars every week. Several of these venues have stated they will not be able to survive much longer under the current restrictions.

This is also devastating to the workers employed in the gaming industry. David Farahi, COO of the Monarch Casino in Black Hawk, spoke about the impact of this shutdown to the media.

“Every casino in America is closed right now and it’s a very trying time,” he said. “Our industry being shut down not only greatly affects the 10,000 employees that are directly employed by the industry but it has ripple effects across all the beneficiaries of gaming tax dollars.” 

Sports betting may help things here. Several of Colorado’s casinos are set to launch their online sports betting platforms later this week. The revenue will be crucial to help these gambling venues survive during this time.

The truth is that no one knows when casinos here will be able to open their doors. In the meantime, these gambling venues will need to rely on their sports betting revenue.

US Casino Revenue Continues to Drop

Colorado isn’t the only state that has ordered casinos to shut down. The entire US casino industry is completely shut down and it’s costing many companies an incredible amount of money. Las Vegas, in particular, is taking a serious hit due to these regulations.

This city is known as the gambling hub of the United States. Many of the biggest and most profitable gambling venues in the world are located here. Due to the casino shutdown, tourism and gambling revenue has almost completely stopped here.

Some of the casino companies in Las Vegas are now looking at Macau for revenue. Unfortunately, revenue in this Chinese territory remains low, as well. Most experts agree that it will be a long time before Macau’s revenue gets back to normal.

Casino revenue is dropping around the country. Several states are beginning to open back up, yet casinos are likely to remain closed for some time. Online sports betting may end up being a hugely important revenue source for these gambling venues.

Colorado’s casinos remain closed to the public. It seems likely that this state begins easing its restrictions over the next few weeks. We’ll need to wait and see how the casino shutdown affects these gambling venues over time.

Stay tuned for more Colorado casino news!

A Great New Sportsbook in Colorado is Set to Launch

The popularity of sports betting is growing every single month in the United States. More states are now choosing to legalize this popular form of gambling. According to new reports, a fantastic new sportsbook in Colorado will be launching later this year.Colorado Flag Picture

Many analysts predict that Colorado will have an extremely successful sports betting industry. Today, we’re going to look at the road to sports gambling legalization here. We’ll also look at which sports betting company is entering this state.

Let’s get into it!

Colorado Lawmakers Legalize Sports Betting

Just a few years ago, the only state in the country that could legally offer sports betting was Nevada. It was frustrating for many other state leaders who recognized how much revenue could be earned from this industry. Eventually, these officials decided to argue their opinion in court.

In May of 2018, the Supreme Court decided to remove PASPA. This immediately allowed every state in the country to set its own laws on sports gambling. Within weeks, states like New Jersey and Delaware announced that sports betting was now legal.

The states with legal sports gambling options began earning serious revenue. As a result, more state leaders began looking into the possibility of regulating sports betting. Even states known for their harsh gambling laws are starting to embrace this industry.

Since PASPA was struck down, lawmakers in Colorado began pushing to allow sports betting. Eventually, a bill was approved in the House and Senate. It then went to a public vote and was approved by the masses in November of 2019.

It’s extremely exciting for sports fans here. As most are well-aware, Colorado is home to several major sports teams. This state should manage to earn a huge amount of revenue from this newly-legalized industry.

A Great New Sportsbook in Colorado is Opening This Year

For obvious reasons, Colorado is a very exciting new sports betting market for many companies. Several of the country’s top sports gambling operators have already expressed a desire to break into this state. This week, news broke of another major sportsbook that’s set to open here.

This company, called SuperBook, has announced that it’s expanding to the Black Hawk’s Lodge Casino in Black Hawk, Colorado. Those who are familiar with this company are already getting excited. SuperBook currently operates the biggest sportsbook in Las Vegas.

The SuperBook is located at the Las Vegas Westgate Hotel. It’s 30,000 square feet and features the largest sports video wall in the city. This company is now teaming up with Jacobs Entertainment to break into the Colorado market.

JJ Garcia, vice president of operations for The Lodge, spoke about this new partnership to the media this week.

“Having Jay Kornegay lead this exciting opportunity is an added benefit Colorado fans are sure to appreciate,’’ he said. 

Jay Kornegay, the leader of this casino’s sports betting operations, is also optimistic about the future.

“We believe The Lodge is a perfect fit for our initial expansion opportunities outside Las Vegas,’’ he said. 

Initially, the new sportsbook in Colorado was set to open on May 1st. Due to new restrictions, this opening date is now being pushed back.

When Will the US Sports Industry Open Back Up?

Over the past month, the entire US professional sports industry has been turned upside down. This is due to the spread of a new coronavirus called Covid-19. This virus has a unique ability to spread and as a result, all professional sports have been forced to suspend their operations.

It’s unclear when this will change. At the moment, states around the country are seeing their infection rates increase rapidly. New York, in particular, is experiencing a huge surge in both infections and deaths.

As long as infections are increasing, sports leagues will remain closed down. This is hurting the sports betting industry, and some sportsbooks in major cities are now in danger of shutting down permanently.

Several leagues have looked at plans to get around these regulations. This includes the MLB, which is considering holding all games inside the same venue. Even the UFC has been forced to close down, despite the company’s attempts to keep things rolling.

Eventually, things will get back to normal. This will be exciting for states with legal sports betting options. We’ll need to wait and see how successful the new sportsbook in Colorado ends up being.

Stay tuned for more Colorado sports betting news over the next few weeks!

Colorado’s Sports Betting Industry is Coming Together

For almost two years, every state in the country has been able to set its own laws on sports gambling. Unsurprisingly, a huge number of states have now legalized this industry and are profiting massively as a result. Colorado’s sports betting industry is just emerging and is expected to be one of the country’s biggest.Colorado Flag Picture

Colorado is home to several major sports teams and a huge number of passionate sports fans. Many major sports betting companies are now attempting to break into this industry. Today, we’re going to look at this state’s path to sports betting legalization, and discuss how it may expand over the next few years.

Let’s get into it!

Sports Betting is Officially Made Legal in Colorado

For decades, only Nevada was legally able to offer sports betting odds in the United States. All other states were prevented from legalizing sports betting due to the Professional and Amateur Sports Protection Act, or PASPA. This bill limited the country’s sports betting operations to Nevada.

For years, lawmakers around the country have been pushing to get PASPA removed. New Jersey, in particular, has been very critical of the controversial bill. Finally, things took a major turn.

In May of 2018, the US Supreme Court decided to officially strike PASPA down. This immediately gave every state in the country the ability to set their own laws on sports betting. Several states, including New Jersey and Delaware immediately legalized this form of wagering.

Certain lawmakers in Colorado have pushed to make sports betting legal since PASPA was removed. In November of 2019, voters in the state finally passed a ballot that allows both land-based and online sports betting. The first sportsbooks are expected to begin operating here in May of 2020.

Colorado’s sports betting industry is already beginning to grow. Several casinos are gearing up to launch their sports betting options.

Colorado’s Sports Betting Industry is Coming Together

Many states have chosen to officially legalize sports betting. Several of these states have passed sports gambling bills, yet are still coming up with regulations. This is the case with Colorado. Sports betting is now legal here, yet no sportsbooks have officially begun operating in the state.

That doesn’t mean casinos aren’t getting prepared, though. Some of the state’s biggest and most profitable gambling venues have officially begun gearing up to launch their sports betting platforms. Many casinos in the state are preparing their land-based and online sportsbooks.

Sean Demeule, vice president and general manager of Ameristar Casino in Black Hawk, commented on the casino’s sports betting preparations to the media this week.

“(We’re) thrilled that the voters passed sports betting last November. We’re starting to plan how we’re going to roll it out here at Ameristar. We’re going to start with a sportsbook here on property, working on the design right now,” he said. “We’re taking what’s been done in Vegas and improving on that.” 

Colorado is likely to begin earning millions of dollars a month from these legal sports betting options. The revenue will help to fund various state water projects. We’ll need to wait and see which sports betting companies begin entering into this state over the next few years!

Several Companies Already Set to Offer Sports Betting Options in Colorado

The US sports betting industry is growing at an unprecedented rate. Bank of America recently claimed that this industry will be worth $22 billion by 2020. As more states legalize this form of gambling, more money begins flowing in.

It’s no surprise to see so many companies push to break into Colorado’s sports betting industry. Not long ago, Twin River purchased three popular Colorado casinos. The company also received three sports betting licenses here, all of which will go live in less than 90 days.

DraftKings and FanDuel are also working hard to enter Colorado. These companies are currently active in many states including New Jersey.

Several major UK companies such as William Hill are interested in Colorado, as well. Based on the way things are going, this could become one of the most lucrative sports betting states in the country.

Colorado’s sports betting industry is already growing. Stay tuned for more updates over the next few months!

DraftKings and FanDuel Enter Colorado With Twin River Partnerships

DraftKings Backwards HatOn Monday, Twin River Worldwide Holdings announced separate market access partnerships with daily fantasy sports heavyweights DraftKings and FanDuel, giving sports fans in Colorado access to award-winning sportsbook products. Under the deals, both operators will receive the required permissions to operate mobile and online sportsbooks in the Centennial State.

Twin River Worldwide Holdings owns several casinos nationwide. Aside from Colorado, they manage properties throughout Rhode Island, Mississippi, and Delaware. In Colorado alone, Twin River operates three casinos and a horse racetrack.

These partnerships combine Twin River Worldwide Holdings’ nationwide experience in gaming and casino operations with market-leading sports betting expertise and globally recognizable brands.

The company recently purchased Golden Gates, Golden Gulch, and Mardi Gras. Each property comes with the ability to obtain three sports betting licenses. CEO George Papanier made the following statement regarding the acquisition:

“Completing the acquisition of Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado last week included the right to three sports gaming licenses in Colorado and will really allow us to expand our footprint here well beyond our Arapahoe Park racetrack and off-track betting network.”

FanDuel Partnership

In the past, FanDuel Sportsbook has been available in Indiana, New Jersey, Pennsylvania, and West Virginia. Colorado is now the fifth state in which FanDuel will offer its services to gamblers. Their CEO, Matt King, also had something to share:

“Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting.

Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”

Sports bettors will soon have access to a variety of online wagering options, including point spreads, moneylines, over/under, parlays, teasers, prop bets, round robins, and a long list of live bets. The FanDuel Sportsbook app will only make betting easier for Colorado residents.

DraftKings Partnership

Colorado is the sixth state to offer the DraftKings’ Sportsbook platform. They previously offered their services in the following states: New Jersey, Pennsylvania, Indiana, New Hampshire, and West Virginia.

“Coast to coast, DraftKings is committed to providing states across the country with the ultimate experience in legal sports betting,” said Ezra Kucharz, DraftKings’ Chief Business Officer.

Twin River holds a mutual pledge to providing exciting, real-time gaming opportunities, and we look forward to working alongside them to introduce Colorado sports fans to our award-winning product.”

As well as mobile and online sportsbook access, the partnership will also allow Colorado sports fans to place sports bets via a retail betting operation at Mardi Gras Casino in Black Hawk, CO. Colorado will become the fifth state where DraftKings operates a retail location, joining Iowa, Mississippi, New Jersey, and New York, subject to adoption of applicable regulations and both parties securing necessary gaming licenses.

Affinity Gaming Sells Three Popular Colorado Casinos

Colorado’s casino industry is one of the best in the country. There are a huge number of popular land-based casinos in this state, all of which are confined to just three cities. This week, a major Las Vegas-based casino company announced that it had sold three popular Colorado casinos.Colorado Flag Picture

Affinity Gaming has been focused on selling properties for the past few months. It appears the company is prepared to loosen its hold on the Colorado casino market. Today, we’re going to look at some of the updates to Colorado’s casino laws and talk about why these three casinos were recently sold.

Let’s get into it!

Colorado’s Casino Industry Continues to Grow

Colorado is thought of as one of the most liberal states in the country. Lawmakers here have been hugely progressive and recently have begun to expand the state’s gambling industry. For a while, however, this state was largely against most forms of gambling.

The first casino opened in Colorado back in 1822. At this time, gambling regulation was non-existent. Throughout the 1800s, a huge number of casinos began popping up around the state and Colorado became known as a popular gambling destination.

Eventually, lawmakers here connected gambling to crime and worked to ban this industry. Casino gambling was eventually banned and it was decades before any legal forms of gambling became available again. In 1988, after the Supreme Court passed the Indian Gambling Regulatory Act, lawmakers realized it was time to rethink their approach.

In 1991, casino gambling was legalized in this state once again. Interestingly, these casinos were only legalized to operate in three states. Black Hawk, Central City, and Cripple Creek are the only parts of Colorado where casinos can be opened.

Gambling fans here are lucky. There are many popular Colorado casinos that both locals and tourists enjoy. A huge number of great online casinos in CO are also currently available. This week, three of these venues were officially put up for sale.

Twin River Acquires Three Popular Colorado Casinos

Affinity Gaming is a major casino operator based in Las Vegas, Nevada. The company owns several major venues across the country, including several in Colorado. Around a year ago, the company announced that it was selling three venues to Twin River, a casino company based in Rhode Island.

This week, the sale of these properties officially concluded. Twin River now owns the Golden Gates, Golden Gulch and Mardi Gras casino properties in the city of Black Hawk. It all comes as part of a broader strategy for Twin River to diversity its portfolio.

As we already mentioned, the company owns several properties in Rhode Island. It’s also expanded into Delaware and is focused on expanding west. The acquisition of these three popular Colorado casinos is one of the biggest moves for this company in their history.

It’s also a great move for Affinity Gaming, which is also focused on expansion. Unlike Twin River, however, the Vegas-based company is focused primarily on properties in Iowa and Missouri.

With the acquisition of these properties, Twin River also receives the right to offer sports betting options in this state. The company issued a statement to the media this week.

“As previously announced, with the completion of this acquisition, Twin River has also acquired the right to three sports gaming licenses in Colorado in connection with the passage of Proposition DD on November 5, 2019,” an official within Twin River said. 

Is Colorado bracing to become the next sports betting capital of the US?

Colorado’s Sports Betting Market Will Be Massive

In May of 2018, the US Supreme Court struck down PASPA. This decision immediately gave every state in the country the ability to legalize sports gambling. Within just a couple of weeks, several states including New Jersey passed laws to make sports betting legal.

Colorado took its time with this industry. Finally, in November of 2019, lawmakers here officially approved a measure to make sports gambling legal and regulated. Both land-based and online gambling will become available here. No sports betting operators will begin operating here until May of 2020.

Some of the biggest sports betting companies in the country have expressed a desire to break into this state. Colorado is known for having a large and passionate sports fan base. The state is likely to earn millions of dollars via taxes every year from this industry.

All of the most popular Colorado casinos are set to offer sports betting options. This includes the three properties that Twin River has just acquired.

It’s an exciting time for gambling fans in this state. Stay tuned for more casino news here over the next few months!