The University of Colorado has announced that it will end its “controversial” partnership with PointsBet just one day after the American Gaming Association’s (AGA) announcement of its plans to ban future partnerships of this kind.
Though the updates would not impact existing partnerships, the AGA’s new rules for sports betting will prohibit the formation of "college partnerships that promote, market or advertise sports wagering activity (other than to alumni networks or content focused on responsible gaming initiatives or problem gambling awareness)."
Given that students under the legal gambling age of 21 attend UC Boulder, questions were asked of the university regarding how wise the original deal had been. Originally, University of Colorado’s Athletic Director, Rick George, said the partnership would benefit "student-athletes for years to come."
A joint statement from the university and the sportsbook said, “PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time. Both parties are thankful for the joint efforts throughout the relationship and wish the best for each organization going forward.”
PointsBet did not specifically answer why it ended their agreement, but stated that the plan was to end the partnership even before the AGA rules were updated.
Connecticut Senator, Richard Blumenthal, sent a letter to 66 colleges and universities the day before the new AGA code which said any school’s willingness to partner with a sports betting brand was "deeply concerning" for young people and their potential problems with gambling responsibly.
Through January 2023, Colorado sports fans bet over $10.7bn. The State collected over $34.7m on those wagers through a 10% tax on sportsbook winnings.
University of Denver is still in a partnership with SuperBook sportsbook. Fans of either the UC Buffalos or DU Pioneers can also still bet on games.
