Bet365 will become Century Casinos' second internet sports betting operator partner in the state after the casino operator signed a similar deal with Circa Sports Colorado earlier in the year.
Century Casinos has already obtained its master license in the state, while Bet365 will complete the necessary application and approval process.
The deal will see Bet365 operate an internet and mobile sports betting application under its own brand, with the 10-year agreement including a minimum annual revenue guarantee and a percentage share of net gaming revenue payable to Century Casinos each year. An advance fee will also be paid upon contract signing.
In January, Twin River announced it had reached deals with FanDuel and DraftKings to provide their sports betting services to bettors in Colorado.
Sports betting has been legal in Colorado since May 1 this year.
Colorado Governor Jared Polis recently eased the state’s stay-at-home order, but it may be weeks until Colorado's casinos reopen and many properties will need to finish installing the required technology, so online wagers are more important than ever.