Online gambling group Betsson has announced plans to enter the nascent Colorado sports betting market through a partnership with Dostal Alley Casino in Central City.
The recently signed alliance and Betsson’s planned entry in Colorado are part of a larger US expansion strategy that will see the gambling operator seek authorization to enter more states where online sports betting is legal.
Betsson said that it plans to launch its proprietary sportsbook in partnership with Dostal Alley Casino in the first half of 2021, pending regulatory approval. The online sports betting operator has signed an initial 10-year agreement with the land-based facility.
Colorado was the 18th US state to legalize sports betting following the annulment of a long-standing federal ban on the practice in May 2018. The state’s first legal wagering operations went live in early May.
Under Colorado’s sports betting law, the state’s land-based casinos can partner with wagering operators to conduct both retail and digital activities. Sportsbooks are taxed at 10% on revenue and bettors are allowed to register and bet online anywhere within state borders or at physical facilities at brick-and-mortar casinos.
According to early projections, Colorado’s sports betting market could reach $200 million at saturation point.
A Journey to Building US Presence
Of their US entry, Betsson CEO and President Pontus Lindwall said that they are very excited to be expanding the company’s global reach by entering a new continent “through the fast-growing online market in the US.”
Mr. Lindwall praised their Colorado partner, which boasts more than 60 years of experience in the state, and noted that Dostal Alley Casino will play an instrumental role in their journey to build their US presence.
The Betsson executive added that they have been following closely the developments in the US sports betting space since the possibility for the federal ban on the practice to be repealed emerged and “have carefully considered ways to enter the market.”
Dostal Alley Casino CFO CinDee Spellman commented that they are thrilled to be welcoming Betsson to the US and team up with them for online sports betting in the Centennial State. The casino official went on that they are confident the online gambling operator and its proprietary sportsbook would “bring the very best experience” to local gambling customers.
Betsson is the latest offshore gambling company to venture into Colorado’s sports betting market since the legalization of the practice.
News emerged in May that British online gambling giant bet365 has teamed up with US regional casino operator Century Casinos to provide digital sports betting services in Colorado. Century Casinos operates two land-based gambling venues in the Centennial State – one in Cripple Creek and the other in Central City.
Earlier this year, British bookmaker Betfred announced that it has partnered Saratoga Casino Black Hawk to provide retail and online betting solutions in the state. Betfred’s sports betting operation is powered by Scientific Games, under a long-term partnership the two companies signed not long ago.