Bet365 Partners with Century Casinos
Bet365 has partnered with Century Casinos as they enter the Colorado sports betting market. The world’s largest online sportsbook operator is set to transform the Colorado market. There is still is no timeline for the launch. However, they are working through the approval process to use their app under their brand.
Bet365 inked a 10-year contract with Century, which includes a split annual revenue guarantee and a net share of gaming revenue. Although Bet365 isn’t the first mobile sportsbook to enter the market, their presence will be felt once they’re operating.
Colorado has the potential to grow into one of the largest sports betting markets in the country. Bet365 entering the market makes it that much more competitive.
Impact of Bet365
Bet365 is the largest mobile sportsbook in the world. The company earns $4 billion annually and is operated worldwide. Also, they have 4,600 employees under their wing.
Bet365 has a strong foothold over in Europe as their biggest markets are in Italy and England. Also, the company streams over 175,000 live sporting events annually. This gives any sports bettor a reason to check them out. Bettors know they can stream a game they bet on even if it isn’t available on their tv.
They are now the sixth mobile betting app to enter to Denver market. Despite being behind in entering, their European presence shows that they can be a huge competitor as more U.S. states legalize sports betting.
Colorado will be the third state Bet365 enters in the United States, but only the second where they will be operating. New York does not have mobile betting approved, and Bet365 will have to wait until that launches.
Engaging the U.S. Market
Right now, Bet365 doesn’t have the same market presence it does in other parts of the world. They are in three states, but only their New Jersey operation is up and running.
The mobile gaming company is creating their app for Colorado but doesn’t know when they will be ready to launch. New York has not approved mobile gaming and Bet365 will have to wait on the sidelines until that is approved.
DraftKings, FanDuel, BetMGM, BetRivers, BetMonarch, and FoxBet have already entered the Colorado market. Although Bet365 is the largest mobile betting site in the world, they could struggle to come out of the gate with the competition that is being seen in the Centennial State.
They are off to a slow start in the United States, but the Colorado market could help them turn things around. Bringing in $4 billion in revenue every year is a good start and all it would take is for them to be the leader in one state. Colorado could be that state even with the late start.
All in all, this is a great move for the world’s mobile leader. As more states continue to legalize sports betting, looking for Bet365 to enter more states. They have the ability to grow exponentially here.
As more states legalize sports betting, look for Bet365 to capitalize on their U.S. opportunities.