British bookmaker Betfred has secured a Colorado wagering partner as state gambling regulators prepare to award the first batch of sports betting licenses, following the legalization of the practice in November 2019.
Betfred announced Thursday that it has partnered Saratoga Casino Black Hawk to jointly operate a retail sportsbook at the gambling venue located in Colorado’s historic town of Black Hawk and provide desktop and mobile wagering services to customers located within the state.
With multiple betting shops around the UK and online gambling operations, Betfred is among the largest operators to be providing gaming and sports betting services in its homeland. Last year, the privately owned company launched its Betfred USA Sports division in Las Vegas, Nevada to capitalize on the growth of sports betting in the United States.
Betfred was among a number of overseas companies to set foot in the US and explore expansion opportunities across the nation, following the annulment of the federal ban on sports betting in May 2018.
Betfred has teamed up with Saratoga Casino Black Hawk just as Colorado is gearing up preparations for the official launch of legal sports betting.
Of their partnership with the Black Hawk casino, Betfred Group Chief Operating Officer Mark Stebbings said that the deal is “an exciting opportunity for both companies and we look forward to sharing our joint expertise to provide excellent service and value for sports bettors both on premise in Black Hawk and online to the people within the state of Colorado.”
May Launch of Sports Betting in Colorado
In November 2019, Colorado voters approved Proposition DD, which called for the legalization of sports betting at retail facilities and through digital channels. The newly implemented sports betting law would tax sports betting operations at 10% on revenue.
Tax money from the practice would support a number of water infrastructure projects in Colorado. Lawmakers projected that about $29 million could be collected in taxes from sports every year as the market grows.
Proposition DD authorized the Colorado Limited Gaming Control Commission to initially issue up to 33 retail and online sports betting licenses. According to recent reports, more than 50 companies have submitted license applications since the opening of the application window.
It is believed that the Colorado regulator will issue the first batch of licenses by February. First legal sports betting operations are scheduled to be launched this coming May.
Saratoga Casino Black Hawk clearly is among the state’s land-based casinos that are looking to capitalize on sports betting. The gambling venue currently features more than 425 slot machines and 10 table games.
Commenting on their partnership with Betfred, Saratoga Casino President Daniel Gerrity said that with more than five decades of international sports betting experience, it is a great opportunity to leverage the British bookmaker’s “expertise along with the Saratoga brand to become the market leader in sports wagering in Colorado.”
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