The Colorado Division of Gaming has held a series of meeting in its process to launch sports betting in the state. A wide range of topics were discussed in these meetings by stakeholders and potential operators, including some of the biggest names in sports gambling such as William Hill.
Colorado's Process Seems All Inclusive
The meetings being held by the Colorado Division of Gaming is unlike anything we've seen from the other states that have already launched their legal sports betting marking. Although Colorado residents voted yes to legalize sports betting last month, it will launch until May. In the meantime, dozens of industry stakeholders and potential operators will meet with the Colorado Division of Gaming to get more information on rules and regulations.
It was no surprise to see industry leaders like William Hill in attendance. Recently, a report was released in regards to Proposition DD which legalized sports betting in Colorado. Although their opposition, Proposition CC, backed by Coloradans for Prosperity and Great Education Colorado, spent more than twice the amount Prop DD spent, it still ended up losing.
Attendees Looking for Clarification on Certain Rules
Some of the biggest names in the world of professional sports and legal sports betting were in attendance for these meetings. It is expected that the pro leagues in attendance will speak in regards to official league data. Only three states have made it a requirement so far and it will be interesting to see how Colorado handles it. All of the pro leagues will also be expected to have their say in regards to integrity issues involving their respective games as well.
Over 50 businesses were represented and each of them wanted clarification on a variety of issues. The subject of what the definition of a prop bet is came up in the discussion. Others wanted to know how taxes would be paid to the state. Among the groups who spoke to attendees were: Responsible Gaming, Technology, Compliance, Integrity and Information, and General Rules.
PointsBet Believe that Colorado Market Has Big Potential
Bookmaker PointsBet signed a deal with Double Eagle Hotel and Casino which allows them to launch a retail and mobile sportsbook in Colorado. There are 33 land-based casinos in the state which means 33 potential mobile licenses. The Australian sportsbook already has a deal that allows them to operate in New Jersey and they feel like Colorado's market has huge potential.
They feel that with a professional team in all four North American sports leagues, there will be a big-time appetite for legal sports betting. They are investing in Colorado big time and plan to have as many as 200 staff in their downtown Denver. This is a company with big ambitions and has said that they plan on making their mark in several states that have legalized sports gambling.
Along with PointsBet, BetAmerica has a deal with Full House Resorts and Smarkets has partnered with Wynn Resorts. With so many licenses available across the state, it will be hard for any one sportsbook to dominate while lots of competition is the best news Colorado sports gamblers could have hoped for.