Betsson set to enter U.S. sports betting market in Colorado
By Pete Ruden, The Action Network
Tribune Content Agency|
Jul 04, 2020 at 8:55 AM
Betsson, a Sweden-based operator, has reached a deal with Dostal Alley Casino to enter the United States through the Colorado sports betting market.
It plans to launch its sportsbook in early 2021 after it receives regulatory approval. Its initial agreement with Dostal Alley will last for 10 years.
Betsson CEO and president Pontus Lindwall said in a release the company has followed the country’s sports betting market closely since PASPA was struck down in 2018 before settling on Colorado to be its first move.
“Dostal Alley Casino has more than 60 years of experience of doing business in Colorado and will play an important role in our journey to build US presence,” Lindwall said in a release. “The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices.”
Betsson described its move into the Colorado market as a cautious step into the U.S. It viewed Colorado as a low-risk move that will ensure long-term sustainability and growth.
“As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the US as we partner with them for online sports betting in Colorado,” Dostal Alley CFO CinDee Spellman said in a release. “With their decades of experience in online gaming we are confident that they will bring the very best experience to players in the Centennial State!”
With an established name, Betsson aims to create the best experiences for its customers through tailored customer needs and differences.
It seems to have picked a good place to do so.
The Colorado sports betting market has found success in its first two months despite most sports around the world being shut down.
In its first month, the Centennial State generated $25.5 million in revenue. With the return of sports, that number will likely grow in June.
DraftKings, FanDuel, BetMGM, and BetRivers were among the first to cash in on the new opportunity in Colorado, and BetMonarch, FOX Bet, and SBK have joined since.
Betsson could take notes from SBK, which also made its first entrance into the U.S. through the Colorado market.
SBK, powered by Smarkets betting exchange, also plans to enter the Indiana market in the “near future.”
Betsson could follow a similar expansion path if all goes well in Colorado.