London-based sports betting technology provider Amelco is seizing upon its vision to expand its reach in the ever-growing US market with news that it has secured yet another major US deal, receiving regulatory approval to operate in the state of Colorado. Amelco builds on a US family that already includes Colorado thanks to its deal with The Stars Group and licenses from gambling regulators in four other states including New Jersey, Pennsylvania, and Indiana. Amelco’s goal is to provide best-in-class solutions for operators in those jurisdictions.
As mentioned, Amelco is no stranger to Colorado. After being granted a license in the state, the company was quick to launch its solutions in partnership with The Stars Group’s FOX Bet brand, which is now owned by global sports betting behemoth Flutter Entertainment. For their second go-around in the Centennial state, Amelco teamed up with ISI Race & Sports and will launch its BetWildwood mobile platform hopefully later this month – BetWildwood’s first online sportsbook.
Commenting on its Colorado expansion, Brandon Walker, head of business development at Amelco said: “I’m delighted to announce that Amelco has added another license to our growing list of US states where will be doing business, highlighting our platform’s capability to meet any compliance requirement.
“As well as The Stars Group, we’re set to deliver Wildwood Casino’s first online sports betting offering, one of Cripple Creek’s most popular VIP-centric locations, with a series of further major sports wagering partnerships due to be announced later in the year.”
Amelco is a global brand that has been around since 2006. Formed by an influential group of industry veterans, the company’s brainchild sought to build software solutions for the gambling industry in the areas of pricing, trading, and the overall infrastructure of legal betting platforms.
The company has since elevated to one of the leading suppliers in their space as evidenced by their relationships with global Heavyweights Flutter Entertainment and GVC Holdings. Amelco’s status in the sports betting world has grown and should, barring unforeseen circumstances, maintain the momentum, at least in the blossoming US market.
Rocky Mountain Move
Amelco’s second gambling venue in Colorado will be located at Cripple Creek, Colorado. The company enters a very competitive Colorado market that includes such providers as Bet365, The Stars Group, Betfred, BetMGM, BetMonarch, BetRivers, Fox Bet, and the two biggest DFS providers in the world to name just a few. Competition is serious in Colorado but the projected market numbers suggest that Colorado can handle it.
The 19th state to welcome legal sports betting, Colorado is expected to be one of the darlings of the industry. PlayColorado estimates that $6 billion in bets could eventually be brought in annually which would lead to $400 million in gross operator revenue and a tidy sum for state and local tax coffers. May, Colorado’s first month of operation, generated $25.5 million in bets despite a seriously limited sports menu.
Amelco moving forward
The company has certainly been gaining confidence in the ability to infiltrate all markets. Amelco Head of Business Development Brandon Walker recently mused about Amelco’s “platform’s capability to meet any compliance requirement.”
There have been whispers of other major partnerships on the horizon for Amelco and their sports betting software and trading services, but no announcements just yet. That said, there is no shortage of opportunity in the US where just 20 states have gone live with their own sports betting platforms, and only about 30% of the population is currently allowed to place a legal wager.
The US continues to be the Wild West for gambling providers – new names seem to be entering the market seemingly every day. Amelco is a brand that is here to stay thanks to its relationship with Flutter and their own projects as well. As the industry grows in the US, so too will Amelco’s brand recognition. If it wasn’t a recognized name before, it soon will be.