Following an agreement with Dostal Alley Casino, Betsson Group became the latest company to join Colorado, which launched regulated sports betting earlier this year.
The online betting and gaming firm, which has inked alongside the property a B2C market access agreement with respect to online sports betting for the area, plans to open a sportsbook in early 2021 following receipt of regulatory approval.
Betsson’s “first and cautious step into the US market” is lauded as a strategic move in the group ‘s ambition to grow its regulated market presence for an initial ten-year term. The deal is built with main lessons, brand identity and initial customers to support Betsson.
Commented CinDee Spellman, Dostal Alley Casino’s CFO: “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. 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!”
Betsson plans to expand its U.S. footprint from its initial office, which is also based in Colorado, and plans to use the opportunity to show “the strength of its sportsbook in the U.S. market” to promote an intention to sell its patented sportsbook in the future to B2B customers.
Betsson’s President and CEO, Pontus Lindwall explained: “I am very excited to reach this milestone, further expanding Betsson’s global reach by entering a new continent through the fast-growing online market in the US. 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.
“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. We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook.”
Colorado was the eighteenth state in the U.S. to legalise online sports betting as of May 1 of this year, requiring 33 licences to include one skin each. Gambling duty constitutes ten per cent of gross gaming income, with the online sports betting industry forecast at saturation to hit about $200 m.
We’re entering the US online #sportsbetting market after Betsson signed an agreement with Dostal Alley Casino. The launch of our proprietary #sportsbook in #Colorado in 2021 is a strategic move reflecting our drive to grow in new regulated markets. Read: https://t.co/OlN14WYWa5 pic.twitter.com/XnWLi0N7p6
— Betsson AB (@BetssonAB) June 29, 2020