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BetFred, the popular UK sports betting brand, has inked a deal with the Saratoga Casino Black Hack for an entry in the state of Colorado. They look to compete with PointsBet.com, which in recent months has set up an office hub in Denver ahead of all other competition.
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Colorado voters just narrowly approved sports betting in the state via an electorial amendment.
With the deal still pending approval from regulators, Betfred can use the partnership as a means of entering the US sports gambling market. PointsBet already has a presence in New Jersey and Iowa. It recently entered into a partnership with the Lac Vieux Desert Band of Lake Superior Chippewa Indians to provide mobile sports wagering in Michigan after that state's Governor signed a bill legalizing the activity last month, though it was revealed on Wednesday that mobile betting will have to wait until at least 2021 to launch.
PointsBet and BetFred look to co-exist in a market that is not dominated by the likes of FanDuel and Draftkings. So far those brands have combined for upwards of 80% market share in some states where they currently operate, including New Jersey.
"We are delighted to partner with Saratoga Casino Black Hawk," stated Mark Stebbings, Betfred Group Chief Operating Officer. "This is an exciting opportunity for both companies and we look forward to sharing our joint expertise to provide excellent service and value for sports bettors both on premise in Black Hawk and online to the people within the state of Colorado."
"We are excited to have Betfred as our sports wagering partner," said Daniel Gerrity, President of Saratoga Casino Black Hawk. "With over 50 years of international experience in the industry, it's a great opportunity to leverage their expertise along with the Saratoga brand to become the market leader in sports wagering in Colorado."
BetFred was established in 1967 and is considered one of the largest private bookmakers with over 1500 betting shops in the UK as well as industry leading online and mobile products in the UK and Spain. The company is run by the colorful co-founder Fred Done. He initially founded the business with his brother Peter, who today is a billionaire and managing director of Peninsula Business Services.
PointsBet is a relatively new entry in the sports gambling market with roots in Australia, where it currently runs a full service wagering site that caters to that market.
- Aaron Goldstein, Gambling911.com
