PointsBet Launches in Colorado
PointsBet is now officially live in the state of Colorado, adding another big-name operator to an already competitive market.
PointsBet is an Australian-based operator, but it has made some huge moves in the United States since launching in New Jersey in 2019.
The Double Eagle Casino in Cripple Creek reached a partnership with PointsBet, and that has allowed the operator to launch its CO mobile betting app. Retail sports betting will also be available at this location, although it won’t happen until some point in 2021.
Colorado Sports betting has been live since May 1, and it took PointsBet much longer to break into the market than what was originally projected. The company decided to focus its efforts on the state of Illinois first, delaying the launch date in Colorado.
This is the fifth state to get a PointsBet sportsbook app, and there will be more on the way. PointsBet is now the 16th mobile operator to join the Colorado market, and there are others that have already submitted an application in recent weeks.
Colorado is looking to become one of the biggest markets in the United States, and adding PointsBet to the mix will help that growth. Some other big names, including DraftKings, FanDuel, and BetMGM are already up and running in the state.
Already a Number of Partnerships
Even though PointsBet just entered the market, the operator has already made a number of deals that should help its growth. The biggest deal that was reached was with the University of Colorado, a first of its kind in the industry.
PointsBet was also able to ink a multi-year deal with Kroenke Sports & Entertainment, which has given it access to a number of professional teams in the state. This deal will also make PointsBet the exclusive sports betting operator with the following teams or entities:
- Ball Arena
- Colorado Avalanche
- Colorado Mammoth
- Denver Nuggets
Another thing that should help PointsBet become a huge player in the Colorado market is the fact that they are opening a new headquarters in downtown Denver. This has been in the works, and it is clear that Colorado is a huge point of emphasis for this operator.
The partnership with the Colorado Buffaloes will benefit both the operator and the entire university. This deal has been questioned by some leaders in the NCAA, but PointsBet is hoping to open the door for similar deals throughout the industry.
Michigan Next For Operator
Now that PointsBet has finally launched in Colorado, the operator will set its sights on the state of Michigan. Michigan has yet to launch online betting, but that portion of the industry is expected to be rolled out soon.
PointsBet has announced that it will go live in the third quarter of the fiscal year, which starts on Jan. 1. Along with sports betting, PointsBet will also be unveiling its iGaming platform in that state.
If things go well in Michigan, PointsBet will be looking to add an iGaming platform to its mobile app in New Jersey as well.
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