Colorado Welcomes World’s Biggest Sports Betting Company

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06/08/2020
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Colorado Welcomes World's Biggest Sports Betting Company

Colorado online sports betting took a huge leap forward recently with the World’s largest sports betting operator, Bet365 making a welcome entry into the fledgling sports betting industry in the Centennial State. The move will be seen as a win-win for both Bet365 – strengthening its presence in the US market – and for Colorado after Century Casinos secured a 10-year agreement with the global giant.

The finalized partnership has already obtained its master license and sees Bet365 becoming the Century Casino’s second internet sports betting operator partner in the state of Colorado.

The U.K. based gambling company will operate both an internet and mobile sports betting application under the bet365 brand in Colorado.

The new partnership between Century Casinos and Bet365in the Mile-High State includes a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to Bet365 each year, with an advance fee being paid on contract signing.

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Bet365 Committed to Colorado & the U.S. in General

The partnership also marks the consistent growth of bet365 in the region after a launch in New Jersey in 2018, another launch in New York under current negotiation (to become the lead online and bricks-and-mortar sports betting services provider for the ‘Resorts World Catskills’ casino in Upstate New York), in addition to a planned expansion into the Mexican market through its partnership with TV Azteca’s gambling subsidiary, Ganador Azteca. The move will be seen to help Bet365 diversify its offerings and stop being largely reliant on the European, British and Australian sports betting markets.

After a successful referendum vote in Colorado last November, this exactly the type of large scale and long-term investment that the proponents of Colorado sports betting were hoping for. The state revenue raised through the Bet365 agreement will assist in providing a potential $40 million annual boost for enactment of Colorado climate-change policies such as the Colorado Water Plan ensuring the state’s agricultural water supply for years to come.

Century Casinos Forging a Strong Online Colorado Sports Betting Industry

Earlier in 2020, the Century Casino group announced a partnership with Circa Sports Colorado, confirming a 15-year partnership to start that includes a share of net gaming revenue, a minimum revenue guarantee payable each year, and a market access fee.

The online sports betting organization will lodge the required application and approval process with state of Colorado officials, upon approval of which the Century Casino group will begin operating an online mobile sports betting app under the Bet365 brand framework.

Century Casinos, which operates the Century Casino and Hotel Cripple Creek and the Century Casino and Hotel Central City within the state limits of Colorado, has one more master license available which they can use to supply another online sports betting app within the Mile-High State.

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The Bet365 News Comes as FoxBet Begins Colorado Operations

On the back of global player, Bet365, announcing its operation, the big U.S. domestic FoxBet brand (now live in Colorado, New Jersey and Pennsylvania) launching their sports betting platform in the Mile-High State, and becoming the state’s seventh official sportsbook came in the same week.

The FoxBet push into the Colorado is significant and based upon the brand’s association with well-known Colorado personalities like former Denver Broncos tight end Shannon Sharpe. The affable and media savvy Sharpe has unsurprisingly become the poster boy of FoxBet’s promotions and successful launch in Colorado. That Sharpe has remained genuinely popular and well liked among Colorado’s many faithful Broncos fans since his retirement is a huge boost to FoxBet’s promotional efforts to kick start its Colorado sports betting offerings.

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