Betfred Goes Live in Colorado & Iowa Sports Betting Markets

Betfred Goes Live in Colorado & Iowa Sports Betting Markets
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Betfred USA Sports announced that its online sports betting platforms have launched in Colorado and Iowa, just in time for the 2020 NFL season.

Betfred is also licensed in Pennsylvania and expects to be in Nevada soon, pending regulatory approval, the company said in a news release Thursday. Iowa and Colorado have also had other online sportsbooks go live in the last several weeks.

”Launching Betfred Sports online betting in Colorado and Iowa in time for the football season is a significant milestone for us," Bryan Bennett, COO of Betfred USA Sports, said in the news release. "We look forward to utilizing our various partnerships, including the Denver Broncos, Sanford International, Grand Falls Casino & Golf Resort and Saratoga Casino Black Hawk to grow our online base and take advantage of our unique offers.”

Betfred’s Colorado Presence

The U.S. subsidiary of the Manchester, U.K.-based Betfred Group is based in Las Vegas and has already made inroads into the emerging Colorado sports betting market. Colorado launched legal sports betting May 1 with four online sportsbooks. It now has 14 online sportsbooks. TheScore Bet joined the market Sept. 2 and William Hill launched its online sportsbook there Sept. 10. The state had more than $123 million bet in its first three months, even with most pro sports shut down during that time.

On June 16, the Denver Broncos announced that Betfred would be a sports betting operator for the team. The multi-year partnership includes a sports betting lounge/hospitality tent outside of Mile High Stadium, in-stadium signage and radio, television and digital advertising. The sportsbook can use official Broncos logos on its platforms in Colorado.

The Denver Broncos open the 2020 season on Monday night against the Tennessee Titans at Mile High. When the Broncos deal was announced in June, Bennett noted the target for the online launch in Colorado was the start of the NFL season.

“We knew we needed to be aggressive upon entering the Colorado market with a Vegas-quality sportsbook and a sponsorship agreement with the Denver Broncos, one of the premier franchises in U.S. sports,” Bennett said. “We look forward to launching our online platform right before football season.”

On June 17, the Betfred sportsbook opened at Saratoga Casino Black Hawk, coinciding with the reopening of the casino after it was shut down for three months because of the coronavirus. It was the second retail sportsbook for Betfred in the U.S.

2022 Update: Is Betfred legal in Lousiana? Find out more about the launch.

Its First Retail Sportsbook Opened in Iowa

The first Betfred retail sportsbook was Grand Falls Casino & Golf Resort in Larchwood, Iowa, which opened in late January, just in time for the Super Bowl. Iowa bettors have to register at the casino to use the Betfred app. The in-person registration requirement ends in Iowa on Jan. 1, 2021.

But Iowa is also a growing market. Iowa had $50.3 million in total sports handle in August, a 120% increase over July’s $22.9 million. In the last full month before the pandemic shut everything down, Iowa had just under $57 million in sports betting handle in February.

FanDuel joined the market last week, launching its online and mobile sportsbook in Iowa on Sept. 3 through a partnership with Boyd Gaming. Bettors also have to register at the Diamond Jo casinos in either Dubuque or Northwood before wagering online.