Tipico Sportsbook has chosen Colorado as the location for its new technological hub, according to the Colorado Office of Economic Development and International Trade (OEDIT).
Tipico, which began operations in Europe in 2004, wants to generate up to 441 jobs in Colorado over the following eight years. It now employs 42 people in Hoboken, New Jersey, and just introduced its unique sports betting product to Colorado residents.
Legalised sports betting
Colorado Governor Jared Polis made the following statement: “Colorado voters paved the way for us to become one of the first states to legalise sports betting and use the revenue generated to protect our way of life and precious water resources that support our outdoor recreation economy and agricultural community.
“This move proves what we already know: Colorado is the best place to live and work and 441 new jobs will be created in Colorado thanks to this voter-driven decision.”
Colorado voters adopted a measure to legalise sports betting in November 2019. In May of 2020, online betting becomes legal. Sports betting brought in about $8 million in tax income for the state in its first year.
Over the last year, Colorado’s regulation of online sports betting has attracted companies like Tipico and PointsBet, as well as bringing in additional direct tax money.
Tipico US CEO Adrian Vella added: “We are thrilled to announce, in partnership with Governor Polis, our intention to establish a Tipico Sportsbook technology hub in Denver.
“From the world-class universities and collaborative technology community, down to the well-documented high quality of life in the state, every metric during our nationwide search pointed us right to Colorado.
“Now that football season is here and our sportsbook is live in the state, we’re confident that the deep pool of technology talent in Colorado will help us take the Tipico brand to the next level in the US.”