What Bet365's Colorado Launch Tells Us About Its U.S. Plans

Bet365 launched mobile operations in Colorado at the start of this month. It has been approved for a license in Virginia and is live in Ontario. Bet365 is the most successful operator in the United Kingdom. Macquarie Group analyst Chad Beynon thinks Bet 365 could be a real competitor in a market where there have been losses and unprofitable businesses.  Fanatics, ESPN and DraftKings are also potential competitors.

Bet365 signed a 10-year deal with Century Casinos to use their skin. The deal was signed in May of 2020, more than two years before Bet365 started taking bets in Colorado. Colorado and New Jersey have a long list of licensed operators. Eric Rose, vice president of operations at Century, expects bet365 to be successful in both states.

Bet365 missed out on a New York license. The company invested $50 million in Empire Resorts in 2018 in return for the license, but the deal was not realized. Bet365 is owned by British billionaire Denise Coates. Bet 365 is not publicly traded. It can afford to be patient with its North American plans while limiting its marketing spend.