The two most widely recognized brands in online sports betting will operate in the Centennial State. Twin River sportsbook deals assure that.
The company, which operates three Colorado casinos, has closed partnerships with DraftKings and FanDuel. There’s still much work to be done, however.
Details of the Twin River sportsbook deals in Colorado
As this will represent the first foray into Colorado for DraftKings and FanDuel, it also represents a first such partnership between Twin River and either of those brands. Although Twin River has legal sportsbooks in three other states, it partners with William Hill there.
DraftKings will provide both an online and retail sportsbook at one of Twin River’s Colorado casinos. FanDuel, on the other hand, will focus only on its online component in the Centennial State.
What’s certain is that DraftKings and FanDuel online sportsbooks will operate in Colorado. It’s unclear exactly when residents of and visitors to that state will be able to access the platforms, however.
The speed of this announcement, though, suggests it will be sooner rather than later. License applications only went out in Colorado a few days ago.
How this deal keeps up with the torrid pace in Colorado
The market in the Centennial State appears to be trying to move from legalization to rollout in record time. The Colorado Limited Gaming Control Commission plays a big part in that.
The CLGCC expects to start approving license applications next month. That should give everyone involved plenty of time to get ready for the first day of legal sports betting in Colorado.
The law, which voters approved in November, has a moratorium until May 1, 2020. Having three months to prepare makes that a possible launch day.
There is no guarantee that DraftKings and FanDuel will be part of that May 1 launch, however. At this point, there is no guarantee that any online or retail books will actually start accepting wagers on that date.
Having these deals in place greatly enhances the chances for all three parties. The state seems interested in making that happen, as well.
Why sooner is better for the state as well as the sportsbooks
It’s pretty simple. The earlier the sportsbooks get going, the more tax revenue the state can put into its coffers.
Because of that, the CLGCC also has the goal of launching as many license holders as possible on May 1. A spokesperson on that matter said:
“The Division of Gaming is conducting prep work now to make sure all those qualified applicants who applied for a temporary license have one in place so they can begin on May 1, if they are ready.”
The prep work falls on the casinos and sportsbook operators as well as the commission. Because this deal is in place, DraftKings, FanDuel, and Twin River can get started on that.
While they may not be alone, it looks as if these three companies could be among the first to market in Colorado. If they can be as successful there as they have in other states, May 1 could be the first day of a winning story in the Centennial State.