Colorado Sports Betting: Fox Bet Sportsbook Launches Tuesday

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Photo credit: Justin Edmonds/Getty Images. Pictured: Mile High Stadium

It’s been a busy week for sportsbook operators. Caesars launched in Indiana today, giving them their fourth state with legal betting; they’re also in Nevada, New Jersey and Pennsylvania.

And in the new Colorado market, Fox Bet launched its sportsbook Tuesday morning. Fox Bet was already live in New Jersey and Pennsylvania, so they’re now in the three biggest legal online betting markets outside of Nevada.

The Fox name likely sounds familiar. And yes, Fox Bet is a sports betting platform created from a partnership between Fox Sports and The Stars Group, a Canadian gaming company most known for its poker platforms like PokerStars. Flutter Entertainment, which owns FanDuel, bought The Stars Group in 2019.

Legal online betting launched in Colorado on May 1, 2020, and it’s quickly become one of the most appealing markets for sportsbook operators. DraftKings and FanDuel — two of the giants of the new industry already following their explosion in the daily fantasy world — launched right away, and other platforms such as BetMGM, BetRivers and BetMonarch have joined the party.

Fox Bet is the newest entrant, and other books are likely to follow in coming months, including William Hill, Circa Sports, bet365 and SuperBook USA (which will expand out of Las Vegas, Nevada, for the first time).

Expansion into Colorado gives Fox Bet access to the largest states (outside of Nevada) in terms of betting handle since the 2018 overturn of PASPA. It is not yet in Indiana, but it will likely continue to enter markets. Of note, Michigan and Illinois recently legalized gambling and will look to roll out online betting over the next year.

Maryland, Virginia and Tennessee have either legalized betting or are on track to; all three are pushing for 2020 or early 2021 launches.

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