The state of Colorado has another place for residents to place sports wagers. PointsBet Colorado officially launched on Wednesday to make the state its fifth market for legal sports betting. In fact, PointsBet’s U.S. headquarters are actually in Denver, so it was only a matter of time for the Centennial State to come online for the operator based globally in Australia.
A license through the Double Eagle Hotel & Casino in Cripple Creek is what has allowed PointsBet Sportsbook to reach the masses in the Rocky Mountain State and high-profile partnerships and marketing deals with the Denver Nuggets, Colorado Avalanche, and University of Colorado in Boulder will give the operator tons of visibility and what should be a pretty big market share in short order.
Interestingly enough, PointsBet Sportsbook opted to put more emphasis on Illinois rather than its home state in the U.S., but the Chicagoland market has a much larger footprint than the Denver market, so it was a strategic decision that paid off and made a lot of sense.
The betting financials for October should be out shortly for Colorado, but the state took in $207.7 million in handle in September, which was the biggest month since the launch of online and mobile sports betting in May. PointsBet will get a piece of that pie and also create some slices of its own with the trailblazing PointsBetting system and all of the promotions that are available on a weekly basis.
Illinois, which has had a relaxed requirement for in-person registration during the pandemic, was one of four states with a higher September handle than Colorado, so PointsBet did make the right decision focusing efforts there as quickly as possible.
Colorado is and has always been a remote registration state, which has certainly helped during the age of COVID-19. With casinos once again closed or restricted as spikes have taken place around the state and around the country as a whole, PointsBet will be another operator that takes advantage of the fact that 98% of bets in Colorado come from mobile apps or sportsbook websites.
Casinos in Colorado are limited to Cripple Creek, Black Hawk, and Central City, two of which are not far from the Denver area, but why make the drive if you don’t have to?
PointsBet Sportsbook is the 16th operator to offer mobile sports betting in Colorado.
For those in Colorado looking for a new sportsbook, PointsBet already has some promotions tailored to its home state. Boosted odds on the Denver Nuggets, the “Hometown Discount” promotion, and Denver Broncos player props are just some of the initial offerings from PointsBet Sportsbook to go along with their usual sign-up promotions of a 100% Deposit Match Bonus up to $250 or Up to $1,000 in Risk-Free Bets.
With Colorado now signed, sealed, and delivered, the next candidates for expansion for PointsBet Sportsbook will be Tennessee, where sports betting just recently launched on November 1, and Virginia, which will start mobile sports betting shortly after the calendar flips to 2021.
Michigan is next on the list with partnerships, marketing deals, and licensing already in place for when mobile and online betting starts in the state.