Betsson enters US sports betting market in Colorado

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Betsson has signalled its intent in the US online sports betting market by signing a B2C agreement with Dostal Alley Casino in Colorado.

Betsson plans to launch its proprietary sportsbook in the first part of 2021, after regulatory approval. The strategic move reflects Betsson’s drive to grow in new regulated markets and this agreement lasts for an initial term of 10 years.

Betsson also has the ambition to build US presence, initially with a small office in Colorado. The move also gives the company an opportunity to showcase its sportsbook in the US market, which it aims to sell to B2B customers in the future.

Colorado was the 18th state in the US to legalise online sports betting, effective from May 1 this year. It allows for 33 licences, each to include one skin. Gambling duty is 10 per cent on GGR and customers can register and bet online while within the state borders. The online sports betting market in Colorado is estimated to reach US$200m at saturation.

Colorado is a wealthy state in the top-third of the US states by GDP with nearly six million inhabitants and growing. It is both a tech and sports hub with its own teams in major American sporting leagues.

 

Via Reuters

 

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