DraftKings is one of the fastest-growing sports betting companies in the world, and it has been making major headlines over the last few months. Colorado is one of the latest states to legalize sports betting, and it is set to launch in a few months.
It was only a matter of time before DraftKings and Colorado would form a partnership to bring a fancy new sportsbook to The Centennial State.
DraftKings and Twin River Worldwide Holdings, Inc. recently announced a partnership that will bring a new sportsbook to the state of Colorado. Twin River and DraftKings will still have to apply for a sports betting license in Colorado, but they are expected to be approved after filling out the necessary paperwork.
Lawmakers in the state of Colorado were worried about the ability to bring in some of the top sports betting companies in the world, but that worry has been taken away with DraftKings making this announcement.
Twin River Worldwide Holdings, Inc. has been making plenty of moves on its own over the last few months, and it is starting to create a presence in several states throughout the country. Twin River recently took control over a number of casinos in Black Hawk, Colo., which is where the new DraftKings Sportsbook is expected to open up.
Black Hawk, Colo., will likely be the hub of sports betting in Colorado when things go live, and DraftKings and Twin River will be ready to take advantage.
The casinos in Black Hawk, Colo., were not equipped to launch sports betting on their own, but that problem was solved with this new partnership. DraftKings has been making similar deals in other states throughout the country, and its top-rated mobile sportsbook app is a huge draw for states, and for their major companies.
DraftKings will also open up a retail sportsbook at this location, and there is the possibility to now partner with local professional sports teams as well. DraftKings is headquartered in Boston, but it has started to expand throughout the country in recent months.
DraftKings will have some competition in Colorado, as FanDuel has struck the same type of partnership with Twin River. DraftKings and FanDuel are the top daily fantasy sports providers in the country, but they are now in competition in the sports betting industry as well.
Timeline For Launch in Colorado
Voters in the state of Colorado approved the legalization of sports betting in November 2019, and the vote was much closer than expected. State lawmakers were extremely happy that the measure passed, though, and they have been working hard to get things up and running.
The state of Colorado has set May 1 as the target date to start taking sports bets throughout the state. It appears that sportsbooks are going to be up and running and ready by that time, but there could still be some delays from the state.
Licenses have been issued to some sportsbooks throughout the state, but there are still some things to be worked out.