Betsson launches long-delayed US sportsbook
Malta-headquartered operator concludes two-year development cycle with Colorado debut
Betsson Group has officially launched its Betsafe sportsbook in Colorado, ending a two-year intensive development process with its US market debut.
The Malta-headquartered operator first voiced its intention to enter the US market on a B2B basis in February 2020, agreeing a 10-year deal with Colorado-based Dostal Alley Casino in June 2020.
At the time, Betsson Group CEO Pontus Lindwall confirmed Betsson’s intention to launch in the US during the first half of 2021, as part of a “first and cautious step” into the market.
During the intervening period, Betsson conducted extensive research into the US market, as part of a wider intention to establish how to best position its sportsbook in the US.
However, in October 2021, Betsson pushed back that launch further to Q1 2022, in order to give the brand crucial testing and certification time before its debut.
Another factor in this postponement was the decision to pivot the brand onto the Strive Gaming platform, as well as the recruitment of staff in key positions to augment the launch.
It follows an “intensive” Q3 period, which focused on fulfilling regulatory requirements and shoring up its platform technology, with as many as 120 Betsson employees working exclusively on the US launch.
As part of the launch, Betsson has opened an office in downtown Denver, with the aim of supporting regional B2B operations and to serve as a base for its first B2B account director, who has already been recruited.
Betsson’s B2C operations in the US will be run from the Denver office and a MD for the B2C offering is understood to be “already on the ground” in the market.
During the firm’s Q4 earnings call, Betsson Group CEO Pontus Lindwall suggested a “significant focus” of the group’s operational assets during Q1 would be concentrated exclusively on the US launch.
This focus is a part of Betsson’s wider strategy to use the Colorado sportsbook as a showcase market, with the aim of encouraging more US operators to utilise its B2B sportsbook technology.
At the same time, it is suggested these B2B gains will serve as a springboard for B2C growth into new US markets as well as Canada.
Addressing the launch, Lindwall hailed it as an “important milestone” for the Malta-headquartered operator.
“We are entering a new continent, expanding Betsson’s global reach and further solidifying our B2B and B2C ambitions, thanks to many months of hard work by our product and technology teams to craft a product customised for the U.S. market,” Lindwall added.
Betsson joins a crowded market of 25 Colorado sportsbook operators including 888, Tipico, William Hill, Barstool Sports and DraftKings.