Online sports betting operator PointsBet, the only spread betting operator that is licensed in Australia, has disclosed its endeavor to launch online sports betting operations in Colorado in 2020, after voters in the state approved a bill to legalize sports betting recently.
The gambling operator is currently authorized by gambling regulators in Iowa and New Jersey to operate online betting operators. PointsBet has revealed that it is aiming to launch in Colorado via a partnership with the Double Eagle Casino in Cripple Creek.
The state’s gambling regulator is at the moment in the process of putting together sports betting regulations.
Colorado voters voted in favor of the sports gambling regulation last week with the Proposition DD passing with a total of 756,720 voting in favor of legalizing sports betting and 723,665 voting against.
The vote resulted in Colorado becoming the 19th state in the US to legalize sports betting operations after the US Supreme Court allowed for the legalization of sports gambling in the country.
Brett Paton, Chairman at PointsBet, commented that Becky’s expertise and strong knowledge of the evolving US sports betting landscape will provide great benefit to the company. He added that he could not think of a better set of skills to assist the board as they execute on their strategy.
Investment firm Morgan Stanley, has revealed that the US market will generate almost $7 billion in revenue by 2025, up from $833 million this year. In 2018 it had estimated $5 billion as the size for the coming five years.