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.
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.
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.
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.
Online Betting Passed by Tennessee’s House of Representatives
It seems that online sports betting will come to Tennessee as the House of Representatives passed a piece of legislation recently that will legalize this type of activity on the web. Tennessee could become one of the few states that gave two thumbs up to betting on sports online.
The Tennessean newspaper published a report stating that a body consisting of 
99 seats approved House Bill 1. 58 voted in favor while 37 opposed the bill, with some of the opposers being pretty loud in their protest against it. According to them, legalizing online sports betting could pave the way to a big increase in gambling addiction.
The legislation regarding online sports betting was written by a Democratic Representative in Tennesse, Rick Staples. It will be sent to the Tennessee State Senate, and if they pass the bill, we could witness online sports betting in Tennessee very soon. The legislative piece was also approved by the Finance Committee, which consists of 33 members. Finally, the Governor of Tennesse, Bill Lee, will have to say his words in the end and put a signature so that everything can be set into motion.
According to Staples, Tennessee is in a unique position right now and it has huge potential to generate revenue from online sports betting. Namely, Staples argues that all the neighboring countries, including Kentucky, Alabama, Georgia, and Arkansas do not allow this type of activity, which means that many people would visit Tennessee to enjoy activities such as sports betting. Furthermore, he added that sports betting operators would use cutting-edge geo-location technology which will allow aficionados from the neighboring states to enter the so-called ‘Volunteer State’ and be able to place wagers.
According to The Tennessean, if House Bill 1 is ratified, it would allow everyone who is located in the state of Tennessee to take part in legal online betting on sports. The only boundary would be that they are of minimum gambling age which is 21 ins this southern state. Punters will have an opportunity to place wagers on both professional and collegiate sports.
On the other hand, the bill doesn’t include land-based sports betting facilities. In other words, everyone who wants to place bets will have to do that exclusively at online platforms. Furthermore, the bill suggests that $50 million in tax revenues will have to be allocated to the local government, gambling addiction programs, and education.
Furthermore, there are a couple of prohibitions that will take place if this legislative piece becomes active, and it is mainly aimed towards prohibited punters. People who are registered as athletes, referees or team owners will be strictly forbidden to partake in online sports betting as it is believed they could compromise the integrity of sports and entier leagues.
House Bill 1 was introduced as a consequence of the invalidation of the Professional and Amateur Sports Protection Act (PASPA) in May last year. This act was largely responsible for the fact that sports betting was largely unavailable in the US for the past two decades. In fact, only Nevada offered sports betting services before PASPA was invalidated. However, some states were ready and welcomed this decision made by the United States Supreme Court. At the moment, sports betting services are available (or being actively discussed) in Delaware, New Jersey, Rhode Island, Mississippi, West Virginia, Pennsylvania, and New Mexico. Furthermore, 31 additional states are currently considering this option and its advantages and disadvantages. States such as Iowa, Washington, and Indiana are some of the states that are very likely to make the first step soon.
