Betsson has secured entry into the US sports betting market.
The Swedish sports betting operator Betsson is set to launch sports betting in Colorado after inking a market access deal with Colorado’s Dostal Alley Casino.
Betsson is the latest European sports betting brand to secure entry into the US sports betting market.
The market access deal
Under the market access deal, which will last for 10 years, Betsson plans to launch its proprietary sportsbook in the state of Colorado in the first part of 2021.
The operator said that its Colorado launch will form part of an ongoing strategy to expand into new regulated markets and help establish a presence in the US.
Initially, the operator will open a small office in Colorado with the long-term goal of moving into other US states and selling its proprietary sportsbook to B2B customers.
Pontus Lindwall, CEO and President of Betsson said: “I am very excited to reach this milestone, further expanding Betsson’s global reach by entering a new continent through the fast-growing online market in the US. Dostal Alley Casino has more than 60 years of experience of doing business in Colorado and will play an important role in our journey to build US presence.
“The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices. We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook.”
CinDee Spellman, CFO of Dostal Alley Casino said: “As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the US as we partner with them for online sports betting in Colorado. With their decades of experience in online gaming we are confident that they will bring the very best experience to players in the Centennial State.”
Sports betting in Colorado
The Centennial State narrowly legalized sports betting in November 2019 after voters approved the sports betting measure through a referendum.
Like New Jersey, Pennsylvania and Indiana, Colorado law allows sports bettors to register online accounts remotely from anywhere within state lines. When it comes to in-person wagering, only three towns in the state have been granted approval to offer in-person betting.
Colorado’s sports betting market went live on 1 May with the launch of four sportsbooks during the coronavirus pandemic. On 1 May, DraftKings, FanDuel, BetRivers and BetMGM launched their online sportsbooks in the state. Monarch Casino Resort’s launched its BetMonarch app on 14 May, followed by Fox Bet a week later.
According to Colorado’s Department of Revenue, Colorado’s sports betting handle hit $25.5m in the first month of legal sports betting in the state.