Colorado Sportsbook Tipico Reportedly Selling US Sports Betting Platform

Written By Mike Breen on 04/30/2024

A new report says Tipico Sportsbook, one of 20 online sportsbooks currently operating in Colorado, is preparing to sell its proprietary US sports betting platform.

The Earnings + More newsletter report cites multiple sources that say MGM Resorts is “heavily rumored” to be the buyer, though Fanatics is also rumored to be in the running.

The sale would allow a company to bring Tipico’s platform technology in-house. Tipico uses a different platform for its European sports betting operations.

It’s unclear whether the sale would include Tipico’s US sports betting or iCasino operations.

Colorado was Tipico Sportsbook’s second US market

The Centennial State boasts nearly two dozen online sportsbooks. Colorado sports betting began in May 2020 after voters approved it in November 2019. Timico launched its sportsbook in Colorado in the summer of 2021.

Headquartered in Malta, Tipico was founded 20 years ago in Germany. It accounts for more than 50% of the sports betting market in that country.

Tipico Sportsbook first launched in the US in New Jersey, where its domestic operations are headquartered. The company began offering online casino services in that state last year.

Tipico’s second US sports betting market was Colorado. It went live in January of 2023 in both Ohio and Iowa.

Shortly after launching in Colorado, Tipico announced it would open a US technology hub in Denver. Century Casino in Central City is Tipico’s market access partner in Colorado. In 2021, the sportsbook signed a partnership deal with the Colorado Rapids during its MLS Cup playoff run.

BetMGM currently operates on the Kambi platform, while Fanatics uses Amelco’s technology for its online sportsbook. In 2022, it was rumored Fanatics was attempting to purchase Tipico’s entire global operations base, but the deal never materialized.

Tipico’s impact on US sports betting market has been minimal

Tipico’s US sportsbook operations so far haven’t made a huge splash.

Colorado doesn’t break down sports betting handle and revenue by operator, but in New Jersey, Tipico reported revenue of just $292,312 for March. That’s well behind NJ market leaders like FanDuel and PointsBet, which each realized more than $20 million in revenue for the month.

Tipico’s March revenue places the sportsbook in the mid to lower tier in the Jersey sports betting market, with operators like BetParx and Borgata.

During its launch in Ohio, Tipico inked a partnership with the MLS’s Columbus Crew and made its NASCAR sponsorship debut at an Ohio race. The sportsbook, however, has performed against the competition there about as well as it has in New Jersey. In February, Tipico’s $572,538 in revenue put it 10th out of 19 sportsbooks in the Buckeye State.

Photo by Shutterstock
Mike Breen Avatar
Written by
Mike Breen

View all posts by Mike Breen