Tipico Making Moves in Colorado
The state of Colorado has become one of the fastest-growing sports betting industries in the United States, and that has attracted several new companies.
PointsBet has built its US headquarters in Denver, and another international company is now looking to call Colorado home.
Tipico recently announced that it plans to build a tech hub in the state of Colorado, and it will provide an economic boost to the entire state. In the announcement, it was noted that there would be an estimated 440 jobs added over the next eight years.
This is not the first time that the name Tipico has popped up in Colorado, as the company launched an online sportsbook back in August. Tipico is a company that is headquartered in Malta, but a move to the US should provide a huge boost to the company.
Economic development officials were reviewing a proposal from Tipico and ultimately voted to approve the company for up to $7.5 million in tax incentives. This turned into somewhat of a bidding war as Tipico was also looking at locations in three other states.
Adrian Vella is the CEO of Tipico USA, and he had plenty of great things to say about the potential for his company in Colorado. Included in the announcement was a quote from Vella stating, “Now that football season is here and our sportsbook is live in the state, we’re confident that the deep pool of technology talent in Colorado will help us take the Tipico brand to the next level in the US.”
An official location has not yet been announced, but it will be somewhere in the Denver area. Along with adding over 400 new jobs to the state, the average salary is expected to be more than $96,000 for these positions.
Tipico is going to start small when it builds up the tech hub in Denver, but new jobs will be added throughout the coming years. Software and data positions will be the first spots filled at the tech hub, but other areas will be needed as the company continues to grow.
NFL Brings Surge in Sports Bets
Colorado sports betting officially went live in May 2020, and it has gone much better than expected. Since that time, Colorado has brought in more than $66 million in revenue, and that number will rise significantly over the next few months.
The NFL season began on September 9, and this always produces some monster sports betting numbers for the entire United States. According to GeoComply, a geolocation service, the action for Week 1 of the NFL season was more than 126 percent higher than it was one year ago at this time. The majority of bets coming from NFL betting apps.
Colorado was not listed among the states inside of the top five for the most action, but that doesn’t mean it wasn’t a big weekend. The Denver Broncos’ big win over the New York Giants was likely a big win for bettors in the state, and that will have them coming back in Week 2.
It won’t be until October when the September sports betting totals are revealed, but the numbers could be staggering.
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