As many states across the U.S are starting to introduce and implement different regulation for online gambling and online sports betting, those that move first and have success are certainly standing out – bigger operators like many of these big options are looking to expand into the U.S market, and states like Colorado could certainly be the first-choice option for the operators looking to grow.
In the first year after legalising online sports betting, Colorado was able to build a $2.3 billion market that focussed on some of the biggest sporting options including the NBA, NFL, NCAA, and more and with the tax funds being put towards water conservation efforts in the state it is certainly a win-win for all involved. Colorado had been praised by many too for the lower tax rate at just 10% for these services and the ease of access for new players looking to become involved in online sports betting – it certainly has become a great example of how to successfully incorporate these options, and perhaps even provide a blueprint for other states looking to do the same, particularly where tax incentives are involved and methods for ensuring that newer players have the easiest time possible with signing up and taking part.
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It’s something that may already be paying off with international interest too as one of Europe’s biggest sports book have eyed Denver as a potential location for their new tech hub – with the possibility of creating over 400 jobs with an annual salary close to $100,000, it’s a huge opportunity for the state, and it has been noted that the successes found with the introduction of online sports betting have certainly contributed to the choice of Denver as one of the highly likely metro areas that have been considered.
Other reasons are included with the tax incentives that have been offered to welcome this international company too, a long with a few other big options that are looking to move to the region too – this will certainly be huge for the online sportsbooks operating in the region and offering more options to different players will help to provide the best possible experience, and with such a strong first year there is still plenty of room to grow and to find more success too.
The second-year figures are already looking very promising and may look to match or even surpass the figures from last year, with the influx of interest from other sportsbooks looking to open it’s looking like Colorado has a very healthy sports betting market too, and provides a great opportunity for other states to follow for similar success.