There is yet another massive sports betting operator coming to Colorado, to what has turned into a hotbed for the legal sports betting industry. The latest is global brand Bet365, which has struck a deal with Century Casinos to provide entry for the UK-based company to Colorado. When it comes to online sports betting, Colorado may be unrivaled in the near future with the amount of options and competition in the market. Let’s get into the deal between the two companies, information about Bet365 Sportsbook, and when we can expect to wager at Bet365 in Colorado.
bet365 headed to Colorado under a 10-yr deal with minimum annual revenue guarantee and percentage of NGR…
Century Casinos Partners with bet365 for Internet Sports Betting in Coloradohttps://t.co/SlxyJMkGLj
— Alfonso Straffon 🇨🇷🇺🇸🇲🇽 (@astraffon) May 19, 2020
Bet365 Sportsbook Colorado
In Colorado, Bet365 will join the already competitive market when it is time for launch. With that said, not many companies are equipped to handle entry into a new state like Bet365. In New Jersey, Bet365 has a partnership with Atlantic City’s Hard Rock Hotel, and has been in the state for quite some time. Bet365 is not new to the sports betting market, though. In the UK, Bet365 has been in business for two decades and is still privately owned. What allows Bet365 to compete is the fact that they have their own technology, allowing a seamless transition from the provider to the application. Not many other sportsbooks offer this seamless transition, and it is a big reason why DraftKings merged with SBTech in 2020.
With its own “Bet Builder” technology, a fast and seamless app experience, and plenty of experience in the space, expect Bet365 to be a key player in Colorado.
Century Casinos and Bet365 Partnership
The partnership itself has some interesting terms for both sides. Century Casinos already has a partnership with Circa Sports, so this makes two in the state for the large casino property company. In the deal with Bet365, the terms are as follows:
- 10-year agreement for Bet365 and Century Casinos to provide online sportsbook operations.
- Includes a minimum annual revenue guarantee.
- Includes a percentage share of net gaming revenue to Century Casinos, each year.
- Agreement is pending, Bet365 will need to b e approved by the state of Colorado.
Century Casinos has one more license to use in the state of Colorado, and will look to add a large name to pair with Circa Sports and Bet365, two already successful companies.
When Can I Bet at Bet365 in Colorado?
If there is one thing we know about these processes, it is not an overnight affair. Assuming Bet365 is approved, it will take at least a month before getting into the state and that does not include necessary testing that will need to be done by the state of Colorado’s overseeing commission. But, with the current coronavirus pandemic and no professional sports in the US since mid-March, the timing could not be better. Bet365 is fully expected to be live and operational for the boom in Colorado legal sports betting in the fall of 2020, when the NFL returns, along with MLB playoffs, and possibly NHL, NBA, and other events.
One fact to note is that Colorado launched legal sports betting on May 1st, and already have six live operators in just a few weeks’ time. This bodes well for Bet365 in terms of the process and timing needed to enter the state.