The Colorado sports betting market will see the first SuperBook outside of Las Vegas.
Jacobs Entertainment has inked a deal that will allow the Nevada-based sportsbook operator, SuperBook, to move into the state of Colorado.
This news comes after Jacobs Entertainment allowed the sports media giant turned sportsbook operator, theScore, to enter the Colorado betting market under its master license.
What’s covered in the deal?
Through its new operating company SBOpco, SuperBook will launch at Jacob’s The Lodge and Gilpin Casinos in Black Hawk, Colorado, and will be available both online and at the land-based venues.
The operator is also seeking approval from the Colorado Gaming Commission to launch its SuperContest product in the state. This a contest that runs through the American football season where players have the chance to win large prizes.
Once the SuperBook brand goes live in the state, it will mark the first time the brand has been available outside the state of Nevada.
SuperBook executive vice president of race and sportsbook operations Jay Kornegay said: “We believe The Lodge is a perfect fit for our initial expansion opportunities outside Las Vegas. We have maintained the highest levels of technology and service in a highly-regulated industry. We have written the playbook on sports betting in the US, and now we will put it in action in Colorado.”
Sports betting in Colorado
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.
Legal sports wagering in Colorado is set to launch on 1 May 2020 after the Colorado legislature approved sports wagering regulations in May 2019.
Although sports wagering was initially set to launch on 1 May, it is not yet clear if this will go ahead due to the coronavirus pandemic.
Earlier this month, the Colorado Limited Gaming Control Commission (CLGCC) held a meeting where it approved 32 more licenses related to the state’s sports wagering market. During this meeting, the regulator approved sports betting licenses for several land-based casinos and online operators such as William Hill and Roar Digital.