Colorado is a few months off from legal sports wagering, but there is still big news from the state, as DraftKings and FanDuel will offer their sportsbooks there. They are two of the biggest sportsbooks in the legal U.S. sports wagering market, and they recently signed a deal with Twin River Worldwide Holdings.
Twin River recently bought three casinos in Colorado, purchasing them from Affinity Gaming, and it was fast to act in the direction it wants to take. George Papanier is the president and chief executive officer of Twin River.
“Obtaining the rights to three sports gaming licenses in Colorado will expand our footprint in the state well beyond our Arapahoe Park racetrack and off-track betting network,” Papanier said.
In terms of the deal made with DraftKings and FanDuel, he said, “These newly formed partnerships with DraftKings and FanDuel allow us to provide unmatched sports betting experience to Colorado, not only with their mobile betting access but also with an exciting DraftKings retail sportsbook location inside one of our newly acquired casinos.”
It is pretty obvious the Twin Rivers is jumping right into the sports betting market in Colorado with its recent deals with DraftKings and FanDuel. These deals were made months before players can make legal sports wagers in Colorado, as the date for that to happen is May 1, if everything goes to plan.
FanDuel and DraftKings are two of the leaders in the U.S. online and mobile betting markets. Of the four states where mobile wagering is legal, each one led two of them.
DraftKings was the top of the heap in both Indiana and West Virginia, while FanDuel is the top dog in New Jersey and Pennsylvania.
FanDuel operates in all of those states mentioned above, while DraftKings does as well, and it also has its sportsbook available to bettors in New Hampshire.
Colorado is yet another feather in the cap for these two leading sportsbooks, and you can be sure it will not be the last.
Twin River Keeps One License
Twin River also operates sports betting in the states of Rhode Island, Mississippi, and Delaware. The two licensing deals with DraftKings and FanDuel leaves it with an additional sports betting license, which it will keep for itself.
Will the Centennial State Be Ready?
In November 2019, bill HB19-1327 was approved by the voters of Colorado, but it was by a narrow margin. The state has a 10 percent sports betting tax and no lack of players with a population of 5.6 million.
However, will the online sportsbooks and land-based casinos be ready to start taking wagers on May 1 of this year? That is the big question.
The online sportsbooks will need time to get their products ready for the Colorado market. For the many land-based casinos in the state, many are not big ones, and it is projected that around 10 of them will have sports betting retail spaces.
Still, unless there is a hitch with state regulators, the casinos, or the online sportsbooks, which have not occurred to date, May 1 will see Colorado join the list of states where you can make legal sports bets.