The state of Colorado already has several top sports betting operators up and running in the state, but they are set to add another operator soon. Smarkets will be launching its SBK mobile application as a part of its soft launch. It will be the first time that Smarkets will be offered in the United States, but they will be in other states as well.
Smarkets has partnered with Full House Resorts which gives them the right to launch in the state. Full House operates Bronco Billy’s, which is located in Cripple Creek, Colo. The two companies agreed to a multi-million dollar agreement last year, and the two companies have been working on this launch since then.
The SBK mobile app is a part of the Smarkets platform, with the parent company being a betting exchange program. Smarkets combines some of the best odds on the market and offers a new way for customers to bet on sports.
The sports betting industry is flooded with a younger generation of customers, and Smarkets appeals to that group. There is also a social network to go along with the app that gives customers a chance to interact with one another.
Betting Boom Coming to Colorado
The state of Colorado is set to become one of the biggest sports betting markets in the United States, especially once live sports return throughout the country. Colorado launched sports betting on May 1, but only a handful of online sportsbook operators were ready to launch on day one.
Colorado approved sports betting in November when voters in the state approved a referendum to launch the industry. The state was expected to become an instant contender in the sports betting industry, but the lack of live sports is set to have a big impact on the industry.
Even though there were only a handful of sportsbooks up and running from day one, gamblers still wagered over $25 million during the first month of live sports betting. There were a limited number of sporting events up and running, but sportsbooks were creative in looking for new and unique sporting events to take bets on.
The Colorado Limited Gaming Commission (CLGC) will release the official numbers on June 15, but they are expected to be better than most industry experts predicted. There is hope that Colorado could eventually take in more than $6 billion in bets each year, but that won’t be the case in 2020.
Smarkets Looking to Debut Elsewhere
Now that Smarkets is up and running in the state of Colorado, Indiana will be the next state to feature the new app. Per their agreement with Full House, Smarkets will run the online betting industry for the company in Indiana, and they are currently working on plans to launch there.
Full House owns and operates the Rising Star Casino in the state of Indiana, and they are ready to launch their online sportsbook app. Indiana, like Colorado, is one of the fastest-growing sports betting markets in the United States, and adding Smarkets will help continue that growth.
The two companies have announced that they are working towards a launch in Indiana in the near future, but a specific date was announced. Not only has Smarkets recently launched in Colorado, but they also just launched in Sweden. Sweden has quickly emerged as one of the top sports betting markets in Europe.
Smarkets launched in 2008, and they have had terrific success since getting off the ground. Since its launch, the London-based company has processed close to $20 billion in consumer transactions and is about to see another major boom.