Online sports betting operator PointsBet has revealed its plans to launch online sports betting operations in Colorado which recently voted in favor of launching regulated sports gambling.
The gambling operator is already authorized by gambling regulators in New Jersey and Iowa to operate online betting operations. The gambling operator has said that it is looking to launch in Colorado with the Double Eagle Casino in Cripple Creek.
The state’s gambling regulator is already in the process of formulating sports betting regulations.
Last week, Colorado voters voted in favor of the sports gambling regulation – the Proposition DD was passed with a total of 756,720 people voting in favor of legalizing sports betting, and 723,665 against.
Following the vote, Colorado became the 19th US state to legalize sports betting operations after the US supreme court allowed for the legalization of sports gambling in the country.
PointsBet chairman Brett Paton said: “Becky’s expertise and strong knowledge of the evolving US sports betting landscape will provide great benefit to the company. I could not think of a better set of skills to assist the board as we execute on our strategy.”
US sports betting market is consistently expanding. According to investment firm Morgan Stanley, the U.S market will generate almost $7 billion in revenue by 2025, up from $833 million this year. Last year it had estimated $5 billion as the size for the coming five years.