The growing Colorado sports betting industry is set to expand as two new sports betting operators enter the market. These two operators are not yet well-known in the United States, but that could change with the launching in Colorado.
The Colorado Limited Gaming Control Commission recently approved temporary sports betting licenses for 888sport and Betsson, and each will likely launch in 2021. Both of these are international operators that are looking to find success in the US.
888Sport is the sports betting arm of 888Holdings, and it already has a small presence in the United States. 888Holdings is based in Gibraltar and is featured on the London Stock Exchange.
Betsson is a sports betting operator based in Stockholm, and this will be the first entry into the US sports betting market. Betsson has been looking to launch in growing markets, and Colorado is certainly one of those.
888Sport was able to apply for a Colorado sports betting license through a partnership with the Grande Casino in Cripple Creek. Betsson has reached an agreement with Dostal Alley Casino in Central City to allow the operator to apply for a license.
888Sport Launching in Three States
888Holdings has been looking to expand its 888sport brand, and it will be launching in three new states in 2021. Colorado is one of the states, and Indiana and Iowa will also see a new 888sport sportsbook in the coming year.
888sport is currently available in Nevada, New Jersey, and Delaware, and the operator has seen tremendous success in each market. Online casino gambling will also be offered in all of the states that allow online casino gambling.
Colorado Sports Betting Market Strong
Colorado launched sports betting on May 1, and the state has seen tremendous growth in the sports betting industry since that time. Industry experts believe that Colorado could become one of the biggest markets in the US, and early signs point to that taking place.
Sports betting handle has grown each month, and the October total was more than $3 million larger than September. Adding these new operators will continue that trend in Colorado, especially by adding two established international operators.
US Industry Setting Records
The state of Illinois just released October sports betting numbers this week, and the Land of Lincoln is now the fourth largest market in the United States. Not only did Illinois set a new sports betting handle record, but it also pushed the entire US industry to a new mark.
With the $434 million in betting handle in Illinois, the total sports betting handle in the US was over $3.25 billion for that month. This is the first time the total went over $3 billion, and the new goal is now set for $3.5 billion.
New Jersey was the leader in October, bringing in more than $800 million in total wagers during that month. Nevada and Pennsylvania had the second and third most bets in October.