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.
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!