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Betfred Wades Further into US Sports Betting Market

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Speaking of their partnership with the Black Hawk casino, Betfred Group Chief Operating Officer Mark Stebbings said that the deal is “an exciting opportunity for both companies and we look forward to sharing our joint expertise to provide excellent service and value for sports bettors both on premise in Black Hawk and online to the people within the state of Colorado.”

Betfred's Pennsylvania location is an attempt to take advantage of the third-best state in regards to overall handles in the US. Subject to regulatory approval, Betfred will provide Wind Creek Bethlehem customers a full-service sportsbook at the casino and a mobile platform for bettors in Pennsylvania.

Stebbings said of the Pennsylvania project: "Betfred have been providing sports betting in the UK for over 50 years and we are delighted to partner with Wind Creek Bethlehem where we will share our joint expertise. As part of our partnership we will provide excellent service and value for the sports bettors both on premise at Wind Creek Bethlehem and online to the wider population of Pennsylvania."

 

Background for Sports Betting in Colorado

It was November, 2019 that Colorado approved Proposition DD that would allow the Colorado Limited Gaming Control Commission to head up the legalization of sports betting in the state, both at retail facilities and via mobile channels. The Proposition was highly contentious passing with just 51.1% of the vote to become the 19th state to allow for legal sports betting.

The Colorado Limited Gaming Control Commission was given the green light to issue up to 33 licenses with the first being granted in February and the initial platforms going live in May. The new platform would be taxed at an industry-friendly 10% and according to projections would add about $29 million in tax revenue for water infrastructure projects in Colorado.

 

And Pennsylvania…

Pennsylvania doesn't especially need help building their sports betting status. The state took in $1.5 billion in wagers in 2019 despite their mobile platform only going live in May. Analysts in the state predict that the Pennsylvania handle could double in 2020 making it one of the most attractive markets in the US.

All of the big players currently occupy space in Pennsylvania so it only made sense for Betfred to join FanDuel, Rush Street, Penn National, Kindred, FoxBet and BetAmerica in a chase for a piece of the huge pie.

 

Betfred in the US

With plenty of experience in the sports betting industry in Britain, Betfred launched Betfred USA in Las Vegas, Nevada in an attempt to capitalize in what analysts predict will be one of the two or three biggest sports betting markets in the world within 10 years.

With 50 years of experience behind them, Betfred will be hard to bet against in America’s robust and ever-expanding US sports betting market. With Iowa and now Pennsylvania and Colorado welcoming in Betfred, it seems to be just a matter of time before Betfred’s reach spreads across the US, adding another huge player into the competition for American wagering dollars.