Colorado Takes a Leap with Sports Betting

Colorado Takes a Leap with Sports Betting

While the gambling industry is going through troubled times, the state of Colorado is making new moves in sports betting. The state’s sportsbook regulations will be effective on May 1 which will make it the 18th state in the US with regulated sports betting market.

Lukewarm opening

Though the market is set to open in a couple of weeks, its launch will be very lukewarm because there are no big sporting events to bet on. Other sportsbooks in the country are facing similar problems because major sporting leagues have been canceled. Therefore, the state’s betting market rollout will not be immediate.

Colorado Takes a Leap with Sports Betting

With Colorado, 19 states now have regulated sports betting markets. Earlier, it was only Nevada that was allowed to host sports betting within its borders. Two years ago, the US Supreme Court ruled that other states could also provide sports betting opportunities. Now 18 states have opened their own sports betting markets. Tennessee, Washington, North Carolina, and the DC will be the next jurisdictions jumping into the sports betting bandwagon. The legislature of Virginia is taking its final few steps before creating a legal market.

Colorado is working with bookmakers

The state is poised to work with prominent bookmakers in Las Vegas to make their market more lucrative. On Monday, Vegas’s sportsbook brand SuperBook announced a new partnership with Jacobs Entertainment Inc. to create mobile and retail sportsbook options at The Lodge Casino in Black Hawk. SuperBook is also planning to launch a mobile betting app in May but its retail operation will only be available in August.

SuperBook vice president Jay Kornegay said that it is exciting for the company to create its first outlet outside of Nevada in Colorado. He said that it’s a new challenge for the brand but they are excited to expand the offering. He noted that the company has had a fruitful discussion about contests as well as the SuperContest. Though it has not been approved yet, he hopes that the SuperContest will be available for the football season this year.

Another Las Vegas-based sportsbooks, Circa Sports, is also planning to start operations in Colorado.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.