Online sports betting just got more exciting in Colorado according to a press release by Century Casinos Inc. According to their statement, Century Casinos Partners with Bet365 for Online Sports Betting in the state of Colorado. Thus, Century Casinos will now offer online sports betting from their Central City and Cripple Creek locations.
According to the deal, the agreement will be for a period of 10 years. Furthermore, during that time frame, Century will use the online sports betting and mobile applications from Bet365. However, the deal will of course depend on Bet365 obtaining a regulatory approval by Colorado.
According to Sports Betting Software providers, Bet365 does not expect any problems acquiring the approval to operate within the state. Furthermore, this is not the first time that Century made a partnership with a sports betting company. This is because last February, they made a similar deal with Circa Sports to launch an online sportsbook in Colorado.
Century Casinos Partners with Bet365 for a share of the Online Revenue
This partnership with Century Casino is an opportunity for the British sports betting giant to access the Colorado gambling market. Furthermore, the deal entails Bet365 to use their own brand to offer online sports wagering in Colorado.
However, according to Bookie Pay Per Head Blog news, there is a cost to this deal for Bet365. This is because Bet365 will have to pay a percentage of the net gaming revenue to Century Casinos every year. In addition, there is a “minimum annual revenue guarantee” in the contract. Thus, Century Casino Inc. will receive a minimum fee no even if the online sportsbook does not do well.
For Bet365, this is just another milestone in their expansion in the American Sports Betting market. However, they are only one of several sportsbooks competing for a share of the American Pie. In fact, several Pay Per Head Agents have been expanding their presence in the American sportsbook market this year.