PointsBet will be coming to Colorado once the state gets sports betting off the ground.
Online sportsbook operator PointsBet has outlined plans to launch betting operations in the state of Colorado next year following the legalization of sports betting in Colorado last week.
The operator plans to launch land-based and mobile operations in Colorado through a partnership with the Double Eagle Casino in Cripple Creek.
The Colorado Division of Gaming is now in the process of establishing rules and regulations for the Colorado sports betting market, and PointsBet has said it will work with the regulator to help launch sports betting.
This news comes less than a week after Colorado voters approved Proposition DD legalizing sports wagering in the Centennial State.
Colorado’s partnership with Double Eagle
Back in July, PointsBet announced a multi-year partnership with Double Eagle Hotel and Casino in Cripple Creek to launch sports betting operations.
Under the deal, PointsBet and Double Eagle will work together to create a “multi-faceted sports entertainment venue.” The venue will include a sports bar, a multi-screen video and odds display wall, viewing parties for major sporting events and extra casino gaming options.
PointsBet in the US
PointsBet’s online sportsbook is currently live in the state of New Jersey thanks to a partnership with Meadowlands Racetrack. The Australian sportsbook operator also holds a license to offer sports betting in Iowa, and currently operates the land-based sportsbook at Catfish Bend Casino.
In July, PointsBet also inked a 20-year partnership with Hawthorne Race Course in Illinois, securing PointsBet’s entry into the Illinois sports betting market.
In August Penn National Gaming also announced a market access deal which will provide PointsBet with access to several states once sports betting is legalized. Through the Penn National deal, PointsBet will have access to Indiana, Louisiana, Missouri, Ohio and West Virginia.
Colorado’s sports betting law
Colorado’s sports betting bill, HB19-1233, was introduced in April and legalizes land-based and statewide mobile sports betting.
Three different types of sports betting license will be available: a master license, a sports betting operator license and an internet sports betting operator license. The cost of these licenses has yet to be set.
The 33 casinos in the state would be able to apply for master licenses. Each casino will be able to partner with a land-based sports betting operator and an internet sports betting operator.
The bill also proposes a 10% gross revenue tax for sports betting operators in the state.
HB19-1327 would also establish the Colorado Gaming Control Commission (CGCC), a new regulatory body charged with regulating the state’s sports betting industry.
