The NFL season is one of the biggest betting periods in world sport, and the 2020 season, the third after the legalization of sports betting in the US, seems set to be the most profitable yet.
Since sports betting was legalized by the 2018 Supreme Court decision, which struck down the PASPA Act, there has been a gold rush among sports betting operators hoping to cash in on the new markets, and some well-known brands have been getting involved, including long-established UK operators, William Hill and Betfred, both of which have targeted the state of Colorado.
William Hill’s operation involved the launch of a website and mobile app, using their proprietary software, which debuted in time for the new NFL season, while Betfred also targeted a pre-NFL launch in the state, the second US state to have a Betfred presence, following their launch in Iowa.
But for William Hill, Colorado is their fifth state, and, according to Joe Asher, who heads up William Hill US, it was an obvious location for their latest sports betting venture:
To sweeten the deal for new customers, both Betfred and William Hill are offering a free $500 bet to be used on any sport, although terms and conditions will apply to these bonuses.
Home of Mobile Sports Betting
The arrival of William Hill and Betfred has enhanced the state’s reputation as a location for new mobile betting products. There are currently 14 sports betting apps available to Colorado residents, including BetMGM, DraftKings, FanDuel, Fox Bet, and BetRivers. The state has proven particularly popular for smaller betting companies as a location to try out their new betting products, due to the relatively low taxation and light regulation that operates in the state.
The result has been a rapid expansion in the size of the sports betting market in Colorado. Having launched in May this year, in the middle of the COVID-19 shutdown, the state has seen sports betting revenue figures grow from $3.4 million in June to $7.5 million in August, and as the NFL season builds towards the play-offs, that revenue figure is likely to climb much higher.
Exciting Times for William Hill
The Colorado launch is just the latest development for William Hill as they expand their presence in the US sports betting market. They now provide mobile sports betting in five states, including New Jersey, West Virginia, Nevada, and Iowa. Their expansion has been boosted by a deal with leading sports broadcaster CBS Sports. The deal will see the two companies integrate their services, with William Hill offering a new sports betting game and odds for the CBS platform.
Perhaps the biggest deal involving William Hill is the news of the takeover by casino giant Caesars, which agreed to buy the UK betting brand for $37 billion at the end of September, giving William Hill access to Caesar’s network of casinos as both brands look to expand throughout the US.