Earlier this year, the National Football League announced that teams could form a partnership with sports betting companies. It was expected that several teams would jump at that opportunity, but nothing came of it until Monday.
The Denver Broncos made history on Monday by announcing a multi-year partnership with the FanDuel Group. This will make FanDuel the official sports betting and daily fantasy sports partner of the Broncos.
This partnership will give FanDuel access to official team logos, and they can use these logos at any of their locations throughout the state. FanDuel will also be able to set up signage at Empower Field at Mile High, the home of the Denver Broncos.
FanDuel Sportsbook will also be able to use official team stats and data at their sportsbooks, which was one of the stipulations that the NFL provided in their initial announcement. FanDuel has already made a splash in the state of Colorado, but this new partnership will be a game-changer.
FanDuel Chief Marketing Officer Mike Raffensperger also noted that FanDuel would be offering some unique experiences to their Colorado customers through this partnership. Customers will have the opportunity to exciting packages to watch the Broncos play.
The sportsbook has already announced a special treat to Colorado sports betting fans for the Broncos’ Week 1 game against the Tennessee Titans. FanDuel is offering the Broncos at +30 in the season opener, while they have the Broncos at 1.5-point favorites in other sportsbooks throughout the country.
FanDuel Not Giving Broncos Very Good Odds
Even though FanDuel and the Denver Broncos will be partners for next season, the sportsbook is not giving the team very good odds of having a successful season. The Broncos are currently listed at +6000 to win the Super Bowl in 2020, putting them in the bottom half of the league.
Denver is given much better odds to win the AFC West, but they are still projected to finish third in the division. FanDuel Sportsbook has the Broncos listed at +1100 to win the AFC West, which will be led by reigning Super Bowl champions, the Kansas City Chiefs.
Making the playoffs would be a huge improvement for the Broncos, but FanDuel doesn’t see that happening either. Currently, the Broncos are at +110 to make the playoffs in 2020, while being listed at -225 to miss them.
Colorado Sports Betting Off to Solid Start
The numbers might not look great when it comes to sports betting in Colorado, but several companies have been pleased with the first full month. Sports betting officially launched in Colorado on May 1, with the industry launching at a time when very few games were being played.
Residents of Colorado narrowly approved a sports betting referendum last November, and the state worked quickly to get things up and running. FanDuel Sportsbook was one of a handful of operators ready to go live on May 1, and they were joined by DraftKings, BetMGM, and BetRivers.
There are more than 20 different online operators that plan to offer mobile sports betting apps in Colorado, which will make it one of the leaders in the industry. The state has been able to attract some of the biggest names in the industry, including the SuperBook.
All of the retail sports betting will be done at the three towns that have casinos in the state. Cripple Creek, Black Hawk, and Central City are all remote locations in the Rocky Mountains, but the launch of mobile sports betting will be a huge moneymaker for the state.