Online gambling group Betsson has announced plans to enter Colorado’s emerging sports betting market through a partnership with Central City’s Dostal Alley Casino.
The recently signed alliance and Betsson’s proposed entry into Colorado are part of a larger U.S. expansion strategy in which the gaming provider will seek approval to enter other states where online sports betting is legal.
Betsson said it plans to launch its own sports betting in partnership with Dostal Alley Casino in the first half of 2021 pending regulatory approval. The online sports betting provider has signed a first 10-year contract with the land-based facility.
Colorado was the 18th state to legalize sports betting after a long-standing federal ban on this practice was lifted in May 2018. The state’s first legal betting operations started in early May.
Under the Colorado Sports Betting Act, the state’s land-based casinos can work with betting providers to do both Retail and digital activities. Sports bets are taxed at 10% on earnings, and bettors can register and bet online anywhere within state borders or in physical facilities in stationary casinos.
According to initial forecasts, the sports betting market in Colorado could be reached $ 200 million at the saturation point.
A journey to build the U.S. presence
Betsson CEO and President Pontus Lindwall said they are delighted to expand the company’s global reach by entering a new continent “by the fast growing online market in the US. ”
Mr. Lindwall commended his partner in Colorado, who has over 60 years of state experience, and noted that Dostal Alley Casino will play an important role in building its US footprint.
The Betsson executive added that it has been closely following developments in the US sports betting space since the possibility of lifting the federal ban on lifting the practice has emerged “Have carefully considered how to enter the market.”
CinDee Spellman, CFO of Dostal Alley Casino, said they are thrilled to welcome Betsson to the US and to team up with them for online sports betting in Centennial State. The casino official went on to say he was confident that the online gambling provider and its proprietary sports betting company would “Bring the best experience” to local gambling customers.
Betsson is the youngest offshore gambling company to venture into the Colorado sports betting market since legalization of the practice.
In May it was announced that the British online gaming giant bet365 has teamed up with the regional US casino operator Century casinos Providing digital sports betting in Colorado. Century Casinos operates two land-based gambling venues in Centennial State – one in Cripple Creek and one in Central City.
Earlier this year, British bookmaker Betfred announced that this was the case Partner Saratoga Casino Black Hawk Provide retail and online betting solutions in the state. Betfred’s sports betting operation is powered by Scientific GamesThe two companies recently signed a contract as part of a long-term partnership.
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