The Colorado sports betting market is home to 14 online sports betting sites, but one of those operators will now plant even deeper roots in the Centennial State.
Colorado Governor Jared Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced Monday that UK-based bet365 has opened its new US headquarters in Denver.
"Unveiling our US headquarters in beautiful downtown Denver represents a watershed moment in bet365’s North American journey. The Mile High City and its thriving business community is the ideal location to launch the next chapter in our company’s future, and we’re excited to create an industry-leading, innovative workplace in our new home," said a bet365 spokesperson.
There are already approximately 50 people at the Denver office, and bet365 plans to hire over 300 employees this year. The Colorado Economic Development Commission approved up to $14,055,942 in a performance-based Job Growth Incentive Tax Credit for the company over an eight-year period, which could help bet365 hire nearly 1,000 employees eventually.
"We are thrilled to welcome bet365 and nearly 1,000 jobs to Colorado and congratulate them on the grand opening of their new US headquarters here. bet365 will create nearly 1,000 new good-paying jobs and as many as 300 this year that will help Coloradans earn a good living and support their families. We are confident they will quickly find that our great state is the best place to live, work and do business," said Governor Polis.
The new HQ will house positions like customer service operations, trading, software development and technology, as well as openings in marketing, legal, finance, facilities, human resources, and recruitment.
Growth across the pond
Just last month, bet365 — one of the most recognizable European betting brands — became the first-ever official sports betting partner of the UEFA Champions League, the most-watched soccer competition in the world.
The British brand has been investing in growth in North America though, recently launching in its 11th state with its July entry into the Pennsylvania sports betting market. The bet365 online sportsbook is also available in Ohio, Virginia, Iowa, Kentucky, Indiana, Arizona, and North Carolina.
Ohio sports betting boasts one of the most competitive and lucrative markets in the entire US legal sports betting industry. bet365 has a firm grasp of third place in the Buckeye State, netting $4.8 million in revenue from its $51.9 million handle in July.
War of attrition
When one door closes, another door opens, right?
The Colorado sports betting market once maintained the most operators in the industry, but smaller sportsbooks are getting pushed out by heavy hitters like bet365.
SI Sportsbook ceased operations in Colorado earlier this month, joining Betsafe and Clutchbet in the exodus from the Centennial State.
