Colorado regulator issues eight new sports betting licenses

Eight new sports betting licences have been issued in Colorado.

The Colorado Limited Gaming Control Commission (CLGCC) has issued eight licenses for legal sports wagering in the state of Colorado.

This news comes after the CLGCC issued its first set of sports betting licenses in February, granting Monarch Casino and Saratoga Casino in Black Hawk, Double Eagle Hotel & Casino, J.P. McGill’s Hotel & Casino, Midnight Rose Hotel & Casino and Brass Ass Casino in Cripple Creek, as well as Dostal Alley Casino in Central City, approval to offer sports betting services.

Who was awarded a licence?

The CLGCC issued masters sports betting licenses to Lady Luck Casino, Ameristar Casino and Isle Casino Hotel, which are all located in Black Hawk.

Crown Gaming, which has secured a deal with DraftKings, was awarded a temporary sports operator licence and an internet operator licence. The CLGCC also awarded a temporary internet operator licence and a vendor major licence to Score Media Ventures, the company behind theScore’s sports betting platform. The Commission also awarded a vendor minor licence to Global Payments Gaming Solutions.

In Colorado, a vendor major licence is valid for two years and applies to companies that contract with or work on behalf of licensed venue to offer sports betting. A vendor minor licence is also valid for two years and applies to a business that is employed for, contracts with, or acts on behalf of a licensed venue.

Operators hoping to offer betting must pay an initial application fee of $10,000 before applying and then an additional licence fee of $125,000 if the application is approved.

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.

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.

In January, DraftKings announced a deal with Twin River Worldwide Holdings Inc. to offer sports betting in the state of Colorado. Under the deal, DraftKings will open a land-based sportsbook at the Twin River Mardi Gras Casino in Black Hawk, Colorado. On top of this, DraftKings will launch its online and mobile sports betting platforms in the state. FanDuel has also inked a deal with Twin River for sports betting in Colorado.

Several other operators have secured access to the state’s sports betting market including BetfredPointsBet and theScore.

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