Australian gambling operator PointsBet recently received a sports betting license in Colorado. The brand was given online sports betting license by the Colorado Limited Gaming Control Commission (CLGCC) on March 19.
Over two dozen operators in Colorado
The CLGCC has now given a total of 31 sports betting licenses to different operators to work in the state. They have been working to create robust sports betting environment in the state ever since the citizens approved sports betting legalization with a public vote in November.
The company first announced its interest in the Colorado market in July last year, when sports betting was not yet legalized. With its new license, it will be competing against other joints like DraftKings, FanDuel, William Hill, theScore Bet and Fox Bet amongst others.
The CLGCC is providing two categories of licenses to operators- Internet Sports Betting Operator and Master License. The Master License will provide a land-based casino to operate a physical retail sportsbook on their property. The license will also allow them to provide online sports betting in the state. They can use up to two strategic partners who can help them in providing online betting services.
The Internet Sports Betting Operator license is only for those businesses that aim to offer online sports betting. However, they must partner with a land-based casino to do this.
Can PointsBet make it big in Colorado?
PointsBet offers a unique betting platform with PointsBetting. It allows bettors a chance to capitalize on the points that a team wins by. The company has partnered with the DoubleEagle Casino, making Colorado the sixth state that the firm has marked its presence in. It already operates in New Jersey, Indiana, and Iowa and is expected to launch its products in Colorado, Michigan, and Illinois by the end of 2020.
According to the November 2019 public vote, retail and online sportsbook will be available in the state on May 1, 2020. However, PointsBet CEO Sam Swanell noted that a May 1 launch may not be in sight. He said that their platform won’t be far behind. As of now, the sports betting market launch date of Colorado could be pushed pack because of the COVID-19 pandemic outbreak. Due to the social distancing advisory, it may not be possible for retail sportsbooks to operate. Online sportsbooks will also be in trouble as there are hardly any events to bet on.
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