Betfred Sportsbook is looking to make 2023 count by making Ohio its number-one priority. The company also gained market access in Las Vegas after a long battle, which is a huge gain moving forward.
Betfred Finally Gets a License in the Silver State
At its regular monthly meeting, the NGC voted 4-0 in favor of granting Betfred a license to operate in the state of Nevada. This approval was the last regulatory requirement Betfred needed to clear, as it had previously been recommended for licensing by the Nevada Gaming Control Board on Wednesday.
The platform is confident that the sportsbook will accept its first wager prior to the Super Bowl. Gaining the approved license puts the bookmaker in a great position, as the Super Bowl is the most wagered single event in the United States. According to the American Gaming Association, 31.4 million Americans wagered a total of $7.61 billion on the Super Bowl.
The company has been waiting two years to finally get approval in Las Vegas. There were many external factors because the global platform put travel restrictions on getting the job done. However, the bookmaker has made more progress than its foreign rivals that are based in Europe by gaining more market access compared to their competitors.
The operator will work to put the finishing touches to its retail sportsbook. The 1,300-square-foot location at the Virgin property will feature many upgrades, as it was formerly the site of the Hard Rock Casino.
The new Betfred sportsbook will be equipped with five 80-inch screens and seating for up to 100 customers. The sportsbook will also feature a high-tech IGT betting system, complete with four betting windows, and multiple self-serve betting kiosks as additional amenities.
Betfred Has Goals to Increase its Presence in the United States
With the sportsbook finding a home in Las Vegas, Nevada is the tenth state where the bookmaker is officially licensed. The other jurisdictions include Arizona, Colorado, Iowa, Louisiana, Maryland, Ohio, Pennsylvania, Virginia, and Washington.
Betfred is the second biggest sportsbook in the United Kingdom; the company only trails Entain. However, competitors like bet365 are well behind in terms of market access and presence in the United States.
The company has other territories in mind, which include Oregon, Indiana, Oklahoma, Missouri, Alabama, and Kansas. Kansas has continued to be a major surprise as the state brought double the number of tax receipts in December than the first month of operation (September).
Betfred Will Use Their Partnership with the Cincinnati Bengals
The Cincinnati Bengals will be taking on the Kansas City Chiefs in the AFC championship, and the sportsbook is promising early payouts to the bets placed before the game. Betfred Sportsbook is making Ohio their top market as the potential is there; the Buckeye State has the seventh-largest population in the nation.
As the official sports betting partner of the Bengals, Betfred has chosen to authorize the advance payout as a gesture of goodwill towards its customers and supporters of the franchise. For bettors who missed out on the early payout, Betfred is offering very favorable +300 odds on the Bengals winning the AFC. The company is trying to be an innovative platform in not only Ohio but the rest of the country.