Colorado Sports Betting Licenses Could Soon Be Distributed

by | Feb 17, 2020 10:08 am | Regulatory | 0 comments

Colorado Sports Betting Licenses Could Soon Be Distributed

Colorado hopes to start the distribution process for sports betting licenses May 1st.

  • Colorado Limited Gaming Control Commission is about ready to hand out licenses.
  • There are seven casinos that could receive a license on Thursday.
  • Sports betting in Colorado should be ready to start on May 1.

DENVER – The Colorado Limited Gaming Control Commission will likely start distributing sports betting licenses on Thursday.

There are around 50 different applicants who want to operate a sportsbook in Colorado. To do so, each casino must apply for a sports betting license.

Now that the voters decided on last November to legalize Colorado sports betting, the first sports betting licenses are going to be soon distributed.

The Landscape Of Colorado Sports Betting

There are two ways that sports bettors will be able to bet on sports in Colorado. Both mobile sportsbooks and retail sportsbooks are legal in Colorado. A retail sportsbook is allowed to partner with an online sports betting operator, even if they do not have a retail sportsbook in the state.

Buddy Schmalz is a co-owner of Dostal Alley Casino. He would like to see his casino have both a retail and online sportsbook, he just needs to find an online partner first. But finding a partner before sportsbooks launch in Colorado is proving to be a difficult task.

“My guess is it’s really tough given the time frame and whoever we partner up with,” said Schmalz.

To get sportsbooks as soon as possible, some casinos were seeking partners before sports betting was even legalized in the state. For example, Double Eagle Casino is going to launch a mobile sportsbook with PointsBet.

PointsBet is not the only online casino that is coming to Colorado. Both DraftKings and FanDuel are planning to contribute to the Colorado sports betting market. Ever since sports betting started to spread in the United States, both companies have become top sportsbooks in the country.

There is still some time before sportsbooks will actually open in Colorado. Sportsbooks will not open in the state until May 1. That means that college basketball betting and March Madness betting will not happen to start. Colorado sports bettors will have to wait until next year or find some other way to bet on March Madness.

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