theScore Bet Sportsbook Gets Go-Ahead for Colorado Online Launch

  • Colorado Division of Gaming gave parent company theScore the green light
  • Sportsbook set to go live in state's burgeoning sports betting market by end of August
  • theScore Bet is currently only live in New Jersey, with an Indiana roll-out in the works
a hand breaking through a yellow wall to indicate a thumbs up
theScore Bet received approval from the Colorado Division of Gaming to roll out its online sportsbook in the state. [Image: Shutterstock.com]

Latest brand to get green light

The latest online sportsbook to obtain approval to launch in Colorado is theScore Bet after its parent company got the green light from the Colorado Division of Gaming. 

Toronto-based Score Media and Gaming Inc. (theScore) confirmed on Wednesday that it received the go-ahead to launch its theScore Bet sportsbook after meeting all of the state’s requirements for mobile sports betting operations. The brand is operated through its Score Digital Sports Ventures Inc. subsidiary.

theScore announced the news in a tweet:

While there is no definitive launch date, theScore CEO and founder John Levy said the plan is to debut in Colorado before the end of August. He added: “This regulatory approval is another significant step toward theScore Bet’s multi-state expansion as we roll out our uniquely integrated media and betting experience across the country.”

theScore Bet gained market access in the state of Colorado in January, after entering into an agreement with a local subsidiary of gaming operator Jacobs Entertainment.

theScore making moves

theScore started out as a popular digital sports media platform, with its theScore media app being extremely popular across North America. It offers users personalized live scores, stats, betting information, and news. 

aims to roll out theScore Bet in Indiana

The company then decided to branch out into the burgeoning sports betting sector. The only live theScore Bet sportsbook is in New Jersey, which launched in September 2019. theScore got a $30m investment from Fengate Asset Management at the time to help with its expansion plans. The company also aims to roll out theScore Bet in Indiana, pending final regulatory approval.

Additionally, theScore became an official sports betting partner of MLB in June. It signed a similar deal with the NBA in January.

The parent company has been trying to deal with a challenging environment during the coronavirus pandemic. It saw a revenue drop of almost 72% year-on-year for the three months ended May 31. Most of the revenue for the period came from its media activities, as the majority of major sports across the world were suspended.

Colorado market ever-growing

Mobile sportsbooks launched in Colorado for the first time on May 1. A number of notable operators have entered the market, including DraftKings, FanDuel, Fox Bet, BetMGM, and BetRivers. Some companies have obtained licenses but have not yet gone live online. Bet365, Betfred, PointsBet, William Hill, and Wynn Resorts are among them.

William Hill recently inaugurated retail sportsbook operations in the state, opening six sports betting kiosks at the Lady Luck Casino and Isle Casino Hotel.

Total handle for the first month of sports betting in Colorado was $25.6m, which rose to $38.1m in June.