Betfred has partnered with a casino in Colorado for sports betting.
UK-based sportsbook operator Betfred has announced a partnership with the Saratoga Casino Black Hawk to offer sports betting in the state of Colorado.
What’s covered in the deal?
Under the deal, which is still subject to regulatory approval, Betfred and Saratoga Casino will open a full sportsbook at the venue in Black Hawk, Colorado. On top of this, Betfred will offer online and mobile sports betting for customers across the state of Colorado.
Mark Stebbings, Betfred Group Chief Operating Officer, said: “We are delighted to partner with Saratoga Casino Black Hawk. This 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.”
Daniel Gerrity, President of Saratoga Casino Black Hawk, said: “We are excited to have BetFred as our sports wagering partner. With over 50 years of international experience in the industry, it’s a great opportunity to leverage their expertise along with the Saratoga brand to become the market leader in sports wagering in Colorado.”
Betfred in the US
Since the repeal of PASPA, the UK-based operator has slowly been expanding its footprint into the US sports betting market. This deal marks Betfred’s latest effort to expand into the US betting market.
In July 2019, Betfred marked its entrance into the US through a partnership with the Elite Casino Resort-owned Grand Falls Casino in Iowa. Under this deal, Betfred will provide the venue with sportsbook technology and offer sports betting services to Iowa residents.
Sports betting in Colorado
The state of Colorado is one of the latest states to legalize and approve sports wagering. The Centennial State narrowly legalized sports betting in November 2019 after voters approved the sports betting measure through a referendum.
Three different types of sports betting license will be available: a master license, a sports betting operator license and an internet sports betting operator license. The cost of these licenses has yet to be set.
The 33 casinos in the state would be able to apply for master licenses. Each casino will be able to partner with a land-based sports betting operator and an internet sports betting operator. The measure also proposes a 10% gross revenue tax for sports betting operators in the state.
Colorado’s sports betting legislation will also establish the Colorado Gaming Control Commission (CGCC), a new regulatory body charged with regulating the state’s sports betting industry.