Czech company Oddin has received a temporary license to offer its business-to-business esports betting product in Colorado.
The company’s temporary Colorado license comes on the heels of similar approvals in Ontario and New Jersey.
As a B2B company, Oddin.gg won’t offer its services directly to Colorado bettors. Instead, the company is expected to partner with operators in The Centennial State to power the operators’ esports betting markets and functionality.
Colorado specifically allows betting on esports
The Colorado sports betting market could be a significant proving ground for companies like Oddin.gg. The state is one of just a few markets where esports betting was specifically legalized. GameCo and US Bookmaking brought the first-ever esports-dedicated sportsbook to the US via Colorado in 2021.
Many markets either prohibit wagering on esports or leave it out of legislation entirely.
In Colorado, esports events must be approved by the Esports Integrity Commission before people can bet on them online or at retail sportsbooks.
Colorado is another step up for growing company
Oddin.gg offers several services. They include:
- Esports odds feed
- Risk management
- Betting iFrame tailor-built for esports bettors
- Marketing services
Vlastimil Venclick, Oddin.gg co-founder and CEO, said Colorado represents another step up the ladder for the company.
“We are thrilled to achieve yet another important milestone for Oddin.gg. Acquiring the Colorado license strengthens our position on the US market, and is another major step in our North American expansion strategy. We have been actively working on the acquisition of further US licenses to support both existing clients and prospects in the future.”
READ ABOUT OTHER SPORTSBOOKS IN COLORADO:
Oddin.gg thinks popularity of esports will keep rising
The company has already established benchmark partnerships outside Colorado. Oddin.gg recently made a deal with Esports Entertainment Group in New Jersey.
Venclick believes the esports opportunity in North America is massive.
“With the esports domain in North America projected to witness exponential growth – forecasting a betting volume of approximately $10 billion by 2025 – there exists a vast expanse for heightened bettor engagement and an enhanced esports viewing experience. This booming market paves the way for forward-thinking US bookmakers to embrace esports, carving out a unique niche amidst their peers.
“At Oddin.gg, we’re poised to empower such companies with our award-winning tools and services, driving their success and concurrently elevating the stature of esports.”