Added in Gaming Business on July 31, 2019 by Jim Murphy

We’re extremely optimistic about the future of sports betting in Colorado. It’s not officially legal yet–state voters have to approve a new sports betting tax in the 2019 general election–but based on the regulatory framework they’ve set up Colorado could quickly become one of the best sports betting markets in the country. Assuming that no one in state government screws things up along the way they could qualitatively rank above every market in the US except Nevada and New Jersey in terms of the player experience they offer.

While most of the details regarding Colorado sports betting won’t be filled in until after the aforementioned November vote we do know one of the ‘sports betting partners’ that will be setting up shop. Australia based PointsBet has signed a deal with the Double Eagle Hotel and Casino in Cripple Creek. The deal will have PointsBet involved in both the retail sportsbook at the property as well as their mobile platform. Here’s the general idea of what they’ll be doing on-site from the press release announcing the deal:

“PointsBet and Double Eagle Hotel and Casino will work in tandem to build out a multi-faceted sports entertainment venue centrally located in Cripple Creek, Colorado – a National Historic Landmark. The venue will include a sports bar, multi-screen video and odds display wall, additional casino gaming options and on-site viewing parties for major sporting events. The sportsbook operation is contingent upon electoral approval by the Colorado voters in the November 2019 election, and is subject to regulatory approvals from the Colorado Division of Gaming.”

PointsBet has been very aggressive pursuing opportunities in the US market. One recent deal saw them enter into a partnership with Chicago’s iconic Hawthorne Race Course for both retail and mobile betting. They’re also offering online betting in New Jersey. One of the interesting things about PointsBet is their introduction of wagers well known in Europe but previously unheard of in the US such as spread betting and early cash out.

Here’s what PointsBet USA CEO Johnny Aitken had to say about the deal:

“PointsBet is proud to partner with Double Eagle Hotel and Casino in the midst of Colorado’s efforts to legalize sports betting. Colorado is a strong and intelligent market hungry for a premium sportsbook and betting experience, and we’re looking forward to introducing new clients to a truly innovative, customer-first experience from start-to-finish.”

Here’s what Michael Smith, President and CEO of Double Eagle Hotel and Casino, commented re: PointsBet:

“We’ve kept a pulse on the excitement of sports betting in Colorado and are confident that PointsBet is the ideal partner to enhance our customer’s and guests’ sports betting experience. We’re looking forward to driving additional tourism to the beautiful city of Cripple Creek by attracting a wider audience of sports betting enthusiasts.”

CASINOINSIDER.COM is almost giddy with excitement at the potential of Colorado’s sports betting marketplace. There’s a few things I would change but ‘big picture’ Colorado is shaping up to be the best of the new states to jump on the sports betting bandwagon. I don’t give credit to politicians often, but credit to Colorado Governor Jared Polis–the state’s gaming regulations should not only offer players a great wagering environment but make also sports betting an economic catalyst in the state. If all goes like I’m hoping, don’t be surprised if you start seeing sports betting technology and related corporations setting up shop in Colorado.

From the player’s standpoint, Colorado is poised to have more independent ‘outs’ than any state in the country other than Nevada. If things work out well, they’ll have more independent lines available than New Jersey. William Hill will likely partner with 9 Colorado casinos based on partnership agreements they’ve already signed. That leaves 24 casinos owned by 15 entities that would be up for grabs. Actually, that’s now 23 casinos owned by 14 entities now that PointsBet has been penciled in for the Double Eagle.

Don’t screw this up, Colorado. I’m already looking forward to moving there.

About the Author

Jim Murphy

For more than 25 years, Jim Murphy has written extensively on gambling theory and practice. Jim Murphy has been quoted in media from the Wall Street Journal to REASON Magazine. Murphy worked as a radio and podcasting host broadcasting to an international audience that depended on his expertise and advice.

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