DraftKings launched its sports betting app in Colorado today. DraftKings Sportsbook Colorado will be available to all players in the state, even if there are relatively few sports to bet on.
Despite the lack of major professional sporting events, DraftKings is poised to capture early market share as competitors work to bring their bettings apps to CO before sports return.
DraftKings Sportsbook Colorado Launch
In partnership with Golden Mardi Gras Casino, DraftKings Sportsbook, the popular sports betting app from the company which also offers daily fantasy and casino games, is available to all players in Colorado.
New users can click here to register for DraftKings. Once they do, they’ll be given the option to bet on… squints… baseball from Chinese Taipei and ping pong.
But perhaps there will be reason to bet on these far-flung sports.
DraftKings is offering up to $1,000 in signup bonuses. The first is a $500 risk-free bet, meaning new players can make their first wager risk-free, up to $500.
After that, DraftKings will match deposits up to $500. However, only 20% of the deposit amount is matched, and the bonus is paid out over time.
DraftKings Sportsbook is one of the top rated betting apps in the US, trailing only FanDuel in total handle. It is available in Pennsylvania, New Jersey, Indiana, West Virginia, and now, Colorado.
DraftKings offers wagering on spread, moneyline, total, and futures bets. They also accept props, parlays, teasers, and even offer sportsbook pools– a DFS style contest competing against other players.
With four major professional teams in Colorado, DraftKings should provide no shortage of betting options.
Big Market Potential For Colorado
Obviously, there won’t be a ton of betting action right now, but DraftKings, and competitors like FanDuel Sportsbook, are counting on a huge surge in online gambling in Colorado. And soon.
Industry analysts have noted a jump in online gambling recently. When sports come back, it is expected that fans, likely stuck watching the game at home, will be looking for an outlet to engage.
Sports betting apps will be happy to fill the void.
Colorado has over 40 casinos, and 17 of them will be able to offer online betting to fans. Many will work with popular online sportsbook brands, such as DraftKings, which have the technology and know-how to handle the volume.
DraftKings, in particular, spends a ton on TV and radio advertising, meaning they can reach fans during games, creating the perfect blend of brand and direct-response advertising. If all of those players are at home, and not at the stadiums, the potential for online sports betting in Colorado is massive for 2020.