Legal sports betting in Colorado has received a huge short-in-the-arm with a new sportsbook, PlayUp entering into the market and is now live for Colorado bettors. Bettors in New Jersey are excited too, as the Aussie-based sportsbook has their sights on a Garden State launch soon. After all, PlayUp has already put down foundations in New Jersey after recently signing a sponsorship agreement with NHL franchise, the New Jersey Devils.
Another operator, Bet Maverick also launched in Colorado last week. With PlayUp’s Colorado launch, that now brings us to 19 online sportsbooks up-and-running in the Mile-High State. PlayUp’s bricks-and-mortar online sportsbook license has been made possible in Colorado by securing a 10-year agreement with Bill Durham Saloon and Casino in Black Hawk. Importantly for PlayUp, the state makes about 98% of their wagers online, and makes its perfectly suitable for launch in New Jersey, the leading online sports betting state in the country.
Dr. Laila Mintas, Chief Executive Officer of PlayUp’s U.S. Division said of the recent launch and PlauUp’s point-of-difference across the entire United States, not simply Colorado;
“We have developed cutting edge technology platforms for daily fantasy, fixed odds betting, esports, and other solutions we hope to announce soon. Our premium offerings will allow us to compete for a segment of the consumer base in a way that we feel will make us a very strong brand. Our slogan is ‘your best bet’ and that’s very authentic as we will be very aggressive on pricing and will offer the best odds in the market. Our offering is very broad with 150+ different sports including eSports betting, that sports fans can bet on. Launching right before March Madness is perfect timing for us along with the 97% handle coming from mobile bets creates a great opportunity,” Mintas announced excitedly.
“We selected Colorado as the first U.S. state to enter as we believe it has great potential, with a population of almost 6 million people that traditionally love sports. The Sports Betting market in Colorado has a potential market size of $300 million,” Mintas wrote in a media release last summer when PlayUp first announced its intention to open its U.S. operations with the state of Colorado. “As we are an online-only brand, our products are very scalable, also in times of social distancing.”
In order to compete with the big established American sportsbooks, PlayUp will need to do some heavy lifting in terms of offering enticing promotions to get bettors to cross over to their brand. It’s already begun that way in Colorado with a very generous $20 No Deposit Bonus and a massive 200% matching first deposit welcome bonus.
A great time to launch in Colorado
Since first offering legal sports betting on May 1 2020, each succeeding full month has led to a record betting handle for Colorado each-and-every month, culminating in the latest full month to report in January 2021, when the Mile-High State pounded out a whopping 326.9 million in sports wagers. That figure pushed Colorado’s total in sports bets over the $1.5 billion mark and rising fast.
In the Aussie company’s favor, is that it is not afraid of doing things a little differently. Unapologetically pitched at high rollers and players who enjoy a little pampering and individual treatment, PlayUp will find its own set of fans that are not necessarily tied to any other existing sports books.
We can’t wait to see what kind of bonus and promotions that PlayUp will offer when entering the ultra-competitive New Jersey sports wagering market, but for sure, it will be extreme.
Watch this space for news of the PlayUp launch in New Jersey.