The Colorado launch of Bet365 set for the second quarter of the year

The Colorado Launch of Bet365 and Their Partners

By Blake Roberts Founder & Editor in Chief Updated: 16 March 2022

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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Is Bet365 Finally Gaining Traction in the United States?

As far as US sports betting is concerned, Bet365 has been very quiet. New Jersey residents can now get to access the sportsbook online. The sportsbook had a 20-year deal with Resorts World in New York for retail and online sports betting at one point. To get a mobile New York sportsbook license, a competitive bidding process had to occur.

In the end, Bet365 was the only qualified loser because it was not clear that its addition to the market justifies a 1% drop in the tax rate. The committee couldn’t come to a conclusive conclusion that the addition of 365 additional licenses would be in the state’s best interest as a whole, according to their findings. As a result of the data collected, it was determined that the state’s revenue would not be increased by allowing mobile sports betting.

Is There Another Opportunity for Bet365 in New York City?

When it comes to the New York betting market, if Bet365 has its heart set on it, there may be a third chance. New York lawmakers Gary Pretlow (Assembly) and Joe Addabbo Jr. (Senate) have introduced legislation to expand the market for online sports betting providers. The key question is whether or not this is financially viable for the state. Adding seven more operators by January 2024, according to the bill, would reduce the tax rate to 25 percent by that time.

You’re on the Right Track for a Bet365 Entry

If you’ve never heard of Bet365, you’re missing out on a lot of potential winning opportunities. One consultant suggested that the brand was waiting out the overly promotional market in the US. In the words of sports betting consultant Peter Nolan:

They know the value isn’t here yet. They’re very shrewd.” Some of these US deals don’t make sense from a unit economics perspective. In contrast, “Bet365 makes so much money elsewhere that they can afford to wait for their share prices to rise.

However, the winds of change are blowing in the US sports betting market in terms of marketing. Reeg said that after the March Madness tournament, Caesars Sportsbook advertisements will “largely disappear.”

In contrast, other video game companies wish to leave the industry altogether. This is because of other operators’ “little regard” for profitability, Churchill Downs has decided to shut down its online casino and sportsbook, the company announced. According to reports, Wynn Resorts’ interactive division is for sale.