A partnership more than two years in the making is live as bet365 launched Tuesday in Colorado.
More bet365 launches coming?
The brand also is listed as an approved operator for sports betting in Virginia as of August 15.
Bet365 may have pushed back its US plans earlier this year if the Colorado timeline is any indication. Century said the brand was planning to be live during the second quarter but pushed its planned launch date back to September.
Colorado sports betting rolling
Bet365 is joining a sports betting market that is still ramping up to its full potential, as seen in July’s results.
Handle hit $258.4 million in July, which was up 42.5% from last July. That is an impressive jump considering the NBA and NHL playoffs continued into July last year because of COVID-adjusted schedules.
Baseball was by far the biggest driver of handle in July considering it was the only major US sport live during the month. Baseball accounted for $110.6 million in handle, or 42.8% of the total bet.
Table tennis still has a hold on the Colorado market as well. The sport was the seventh-most bet in the state with just over $4 million in bets.
Where will bet365 fall in terms of share?
Colorado does not break out handle or revenue share by operator, so it is not known who leads the state from month to month.
It is likely some combination of BetMGM, DraftKings and FanDuel at the top of the handle chart judging by other states. Those three will not be easily knocked off by any new competitors, even with international prowess.
Still, bet365 should add its fair share of customers even with limited marketing. How quickly the brand begins to battle for market share will likely depend on when it goes live in other states and begins a national marketing plan.