Colorado regulators grant more sports betting licenses, set for May 1 launch

The Colorado Limited Gaming Control Commission approved more sports betting licensees and made budget arrangements in a teleconference meeting. The state regulators made minor revisions to the list of wagers on offer but pushed forward despite the absence of sports during the COVID-19 pandemic.

The regulators unanimously approved Betfred Sports for their Temporary Sports Betting Operator and Temporary Internet Sports Betting Operator licenses, enabling the partnership to deliver a full sportsbook experience to the Saratoga Casino Blackhawk customers, as well as mobile and internet sports betting online, to people within the State of Colorado.

The Wildwood Casino became the final Cripple Creek gambling hall Thursday to receive a sports wagering license from the Commission. The commission also granted licenses to four casinos in Central City and one in Black Hawk.

Colorado voters approved a referendum in November legalizing sports wagering, which is scheduled to begin May 1, though customers will have few, if any, sporting events on which to bet as college and most professional sports leagues have temporarily shut down because of the coronavirus pandemic.

Dan Hartman, director of the Colorado Division of Gaming, surveyed operators about launching during the pause. He found enthusiasm despite the unusual circumstances, conceivably from potential customer acquisition opportunities before football season. “We have some operators that are excited about getting started even though it’s a slow time for sports,” Hartman said, as reported by Legal Sports Report.

The commission approved one change Thursday, removing markets for in-play wagering on NCAA games. Colorado’s voter-approved statute restricts those bets.

The commission gave the go-ahead to another handful of licenses Thursday, including SuperBook’s first foray outside Nevada. SuperBook will partner with The Lodge to dive into sports betting in Colorado. SBTech also received unanimous approval among others in its category.

Hartman said 25 online sports betting licensees and 19 retail licensees can launch on the May 1 start date. License fees in Colorado compare favorably to the rest of the country: $2,000 per master licensee and $1,200 for most others.