Bet365 is well known throughout the sports betting world. But up until a few years ago, they were only operating in the United Kingdom. However, the company has since brought its operations to the United States in the state of New Jersey.
Colorado was expecting to see bet365’s operations launch well before the start of the NFL season, but according to an announcement recently made by Peter Hoetzinger, the Century Casinos CEO, operations probably will not begin until at least September 1st.
This would set the launch date only one week before the NFL season kick-off, which will leave bettors scrambling to place their wagers. Luckily, these sports bettors have many other options. Therefore, this might leave bet365 with the short end of the stick.
Reasons for bet365 Colorado Delay Unclear
Peter Hoetzinger didn’t give a clear reason for the start date pushback in his announcement, but the recently announced bet365 and PGA Tour partnership may have something to do with it. This partnership, and the announcement of it itself, has kept the company extremely busy, and they may be focusing on their home ground.
This partnership was big news, as bet365 is the PGA’s first international partner. They’ve previously partnered with only North American sportsbooks. The partnership ensures that bet365 is the only provider of odds on the PGA’s website for Ireland, Australia, and the United Kingdom.
Read more about the bet365/PGA partnership.
Bet365’s choice to push back sports betting in Colorado is very surprising. Being new to the scene already puts them at a disadvantage, and they received their license from the Colorado Limited Gaming Control Commission in the winter of 2021. This means that they’ve had up until now to get things running smoothly so that they can advertise and accumulate users before the NFL season begins.
It seems that they will be taking the opposite approach, and will most likely be required to scramble for anyone looking to place their last-minute bets. Many other sportsbooks will be using the few months before the NFL season to find bettors and have them place their early bets with them. This is where most of the money will be made, and bet365 will be missing out.
Maintaining Their Influence
Although bet365 isn’t rushing to operate in Colorado, the company is still a big name in the United States. Many other sportsbooks have been keeping their eye on bet365 for a while now, as their entry to the United States only means that they’ll be increasing their influence in the sports betting industry, which they’ve already done a great job at in the UK.
Many sportsbook executives are confused by the company’s approach to US sports betting. One executive expressed his opinion on this approach:
“Here is the one company that could seriously come in and compete on the top tier. They’ve got limitless cash flow coming in from every corner of the globe. And yet they have done almost nothing in the US.”
Although it’s impossible to read the mind of bet365, it’s highly probable that this decision is strategic, and the United States will be seeing more of them soon.
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