November 18, 2020 Sports Betting

Pointsbet sportsbook launches in Colorado

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Australian-based Pointsbet has launched its mobile sportsbook in Colorado, as state it has invested heavily in over the previous months.

Pointsbet moved its US headquarters to Denver earlier this year and has partnerships with the NBA’s Nuggets, NHL’s Avalanche, and the University of Colorado athletic program.

Johnny Aitken, PointsBet USA CEO, said “It is a great feeling to now be able to officially introduce Colorado sports bettors to the competitive advantages PointsBet possesses in owning our technology end-to-end, as well as light up our major investments in state like our fully exclusive deal with the Kroenke Sports and Entertainment team across the Denver Nuggets, Colorado Avalanche and the Ball Arena in advance of the upcoming NBA and NHL seasons.”

The company now operates sportsbooks in five US states; the others are New Jersey, Illinois, Indiana and Iowa.

By establishing its main US offices in Denver, Pointsbet clearly views Colorado’s market ripe for growth. The state began accepting sports wagers in May and has already surpassed the $200m handle mark once, in September.

Colorado has not released its October numbers yet.

Pointsbet raised eyebrows earlier this fall by signing a marketing partnership with the University of Colorado, who compete in the Pac-12 Conference. The deal marked the first reported partnership between a major college athletic program and a gaming operator.

According to Sports Illustrated, the seven-year contract includes quarterly payments from Pointsbet to Colorado growing incrementally each year. Colorado will receive at least $1.6m by 2027.

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