Colorado Sports Betting

As the legal sports betting industry expands throughout the United States, there will news breaking on different states or sportsbooks entering states nearly every day. That is the case here, with breaking news out of Colorado.

With a recent partnership with the company “Twin River Worldwide Holdings”, DraftKings and FanDuel Sportsbooks will both enter the state of Colorado. With Colorado law allowing for three licenses per casino, they will have DraftKings as one, FanDuel as another, and keep the third license for themselves. Twin River’s president and CEO George Papanier sums it up best:

“These newly formed partnerships with DraftKings and FanDuel allow us to provide an unmatched sports betting experience to Colorado, not only with their mobile betting access but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos.”

Expect to see DraftKings and FanDuel to dominate in Colorado once sports betting is allowed in the state. This will be a terrific competition to watch between FanDuel and DraftKings, as both are likely to enter Colorado at the same time. As for Twin River, they will undoubtedly be the top company in Colorado with these two partnerships.

 

DraftKings Sportsbook Colorado

Colorado will be the sixth state for DraftKings Sportsbook, who is already in Pennsylvania, New Jersey, Indiana, West Virginia, and New Hampshire. DraftKings is the “leading” sportsbook in Indiana and West Virginia, and will look to add Colorado as the third state as the “leader”, which means taking the most action in the state. DraftKings ranks behind FanDuel in Pennsylvania and New Jersey. Being the only sportsbook in New Hampshire means that the book obviously dominates the state.

DraftKings Sportsbook will enter Colorado as one of the three Twin River licenses. Twin River acquired three casinos in Colorado in mid-January (Golden Gates, Golden Gulch, and Mardi Gras) in Black Hawk, which allows them to have three sports gaming licenses. The other two are FanDuel Sportsbook and Twin River itself. As mentioned above, Papanier also expects DraftKings to have a retail sportsbook at one of the three casinos.

 

FanDuel Sportsbook Colorado

Colorado is FanDuel Sportsbook’s fifth state, already leading Pennsylvania and New Jersey while also performing well in Indiana and West Virginia. FanDuel will operate as one of the three Twin River licenses in Colorado.

FanDuel Group’s CEO Matt King expresses the excitement:

“Twin River has been engaged in sports betting since the beginning in Rhode Island and Mississippi, and they are an ideal partner as we continue to enter states that open up online and mobile sports betting, Colorado has a sensible framework for sports betting, and we are excited to partner with a renowned gaming company like Twin River to bring our market-leading online sports betting experience to Colorado sports fans.”

 

When Can I Bet in Colorado?

Colorado is legally allowed to offer bets, and sportsbooks are allowed to start taking bets, on May 1st, 2020. That does not mean it is a hard date, as there have always been snags as states err to the side of caution for testing and compliance purposes. The state has already expressed trying to be ready for May 1st launch, and given that there are multiple sportsbooks with partnerships, it will be essential for the state to take bets as soon as possible in May to capitalize on the NBA playoffs.

For more details on sports betting in Colorado, click here.

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