Betsson Enters Colorado Sports Betting Market
iGaming operator Betsson is to enter the US market through a deal with Dostal Alley Casino
Betsson, one of the largest online gaming companies in Europe, will make a move into the Colorado sports betting market after confirming an agreement with Dostal Alley Casino. Betsson, who is based in Stockholm, has signed a ten-year deal with Central City Black Hawk casino, which will give them access to one of the fastest emerging markets in Colorado. This is also Betsson’s first venture into the rapidly growing U.S. sports betting market.
Betsson has revealed that they plan to launch their retail sportsbook in the first quarter of 2021, after regulatory approval.
Betsson Seeks Growth in the United States
This move reflects Bettson’s desire to grow in new regulated markets, providing the company with access to the ever-increasing online betting industry in the United States. This first cautious step into the U.S. is seen as a way for Bettson to develop key learnings, brand presence, and build an initial customer base across the country. The online gaming giant has also confirmed that they will operate an office in Colorado.
Betsson’s model is to grow sustainably in a financially safe manner, and they feel this partnership reflects that ethos. They aim to build from their first office in Colorado to have more of a presence across the country. This move also gives them the chance to showcase how strong their sportsbook is in the United States and reinforces their desire to sell its proprietary sportsbook to Business-to-Business customers over the long term.
Pontus Lindwall, CEO, and president of Betsson believes they have entered the U.S. market at the perfect time. He commented on how online gambling has accelerated at pace, with customers gaining more confidence to transition from traditional retail outlets to now using their computers or mobile devices. Lindwall also states that this is something that has been in the pipeline for a while. The company has closely monitored betting activity in American since the repeal of PASPA.
Colorado Sports Betting Grows
Following a referendum, Colorado legalized sports betting in November 2019. Gambling was already pretty well established in the Centennial State, with 33 land-based casinos up and running. When Proposition D.D. was passed, gambling options were then expanded to include online sports betting.
The first to enter the Colorado market were giant operators DraftKings, FanDuel, BetMGM, and BetRivers. All four launched their online apps for Colorado residents. Other operators have since followed suit, including FOX Bet, SBK, and BetMonarch as state-licensed sites. Despite launching at an unfortunate time due to the Coronavirus pandemic, the market got off to a promising start. With the most significant sports shut down, Colorado announced a handle of $25.5 million in the first month, which was above most projections.
As well as the launch of those online sportsbooks, the first bet was placed at the Saratoga Casino Black Hawk retail sportsbook in June, which is operated by Betfred USA. Casinos in the state have started to re-open again following a blanket closure that was enforced in March.
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