Sportsbook operator, Bet365 has secured entry into Colorado’s sports betting market with its latest deal.
US casino operator Century Casinos has inked a deal with the online gambling giant Bet365 for online sports wagering in the state of Colorado.
What’s covered under the deal?
The deal, which will span 10 years, will see Century Casinos operate an online sports betting site and mobile application under the Bet365 brand. The deal is subject to Bet365 securing regulatory approval in Colorado.
The announcement of the deal did not include a timeline for the launch of Bet365’s platform in Colorado.
The agreement also includes a minimum annual guarantee and a percentage share of net gaming revenue to be paid to Century Casinos each year. The sportsbook operator also paid an unspecified amount upfront.
Another partner for Century
Last month, Century Casinos secured master licenses for sports wagering in Colorado at its Central City and Cripple Creek venues. With these licenses, the casino operator will be able to work with a land-based sportsbook operator, an online sportsbook operator or an operator that offers both.
In February, Century Casinos announced a deal with the Las Vegas-based sports betting company Circa Sports for online sports betting services in Colorado.
The partnership with Circa Sports will span 15 years and will allow Circa Sports to launch its mobile betting app in the state in partnership with one of Century Casino’s licensed venues.
Century Casinos said that it still has one more master license available for an online sports betting partner in the state.
Bet365 in the US
The sportsbook operator Bet365 describes itself as the largest sports betting company in the world but has yet to conquer the US sports betting space.
In 2018, Bet365 launched its online sports betting platform in the state of New Jersey via a partnership with Hard Rock Atlantic City. The operator has also inked a market access deal for New York but must wait until online sports betting becomes legal in the state.
Now that the operator has secured entry into Colorado, the Centennial State may be the next state to see the launch of Bet365’s betting platform.
Sports betting in Colorado
Colorado’s sports betting market went live on 1 May, despite the sports shutdown caused by the coronavirus pandemic. Several sportsbook operators, including DraftKings, FanDuel, betMGM and BetRivers launched sports wagering operations at the start of May.
On Tuesday (19 May), the Fox Bet online sports betting platform went live in the state, making it the sixth online sportsbook to serve bettors 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 will allow 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.