The Colorado New Betting Options
The landmark decision to revoke the laws banning sports betting in the country was taken by the US Supreme Court in May 2019. This followed a long and lengthy effort to legalise the practise by some states, led by New Jersey. It was not a unanimous decision at all, but the law was passed and, since then, it has allowed individual states to develop their own laws.Many were involved in the first wave, like New Jersey and Nevada, of course, and numerous others have followed suit as well. In Colorado’s case, it was in November UFABET 2019 that individuals were permitted to vote on whether to implement sports betting. It became entirely legal to bet on sports from the 1st of May 2020 after a slim win for those in favour.Anyone over the age of 21 is now able to bet on practically any sport under the new legislation, provided that they do so through licenced sports books. Both the Colorado Gaming Control Commission and the Colorado Gaming Division regulate the industry, which immediately reviewed the legal criteria following the vote, taking their lead from other states in which sports betting was already legal.Given some of the state government’s concerns regarding legalising sports betting, the fact that it received $96,000 in taxes alone in the first month is likely to have made them feel a little more inclined to practise.
A change of views
Most of the impetus to maintain the status quo came from the major leagues, including the NBA, MLB and NFL, when the betting ban was in place. The assumption was that if betting were part of them, the honesty of the sports could be impacted, with players exposed to control from interested parties. So, ironically, some of the teams , especially the latter, are beginning to take advantage of the new arrangement.The Denver Broncos are one team that still does really well out of the new structure. This is due to the number of new collaborations with a number of sports betting companies operating in Colorado that have been hit by the team and are looking to further grow their visibility in the state.
One, two , three … One, two , three
In the middle of June, the first of these was decided with the FanDuel Community, which entered the Broncos as its first official sports book and daily fantasy partner. The deal also includes several opportunities for FanDuel to advertise on billboards in and around the Empower Field at Mile High, as well as via TV , radio and digital channels, in addition to providing access to the massive Bronco fanbase. It also allows them to openly use the logos and trademarks of Bronco, which are typically carefully covered by copyright.One with the UK-based betting firm, Betfred, came hot on the heels of this first offer. The business would be allowed to open the first ever sports betting lounge attached to an NFL stadium as part of the deal. This comes at the same time as the arrival at the Saratoga Casino of Betfred ‘s second sports book, Black Hawk.Then, by getting together with the leisure and betting giant BetMGM in July, they accomplished the hat trick. The agreement with them will include the opening inside the stadium of a VIP BetMGM lounge as well as the launch of a free-to-play game on the 365 mobile app of the Denver Broncos.
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From the bottom line
All three deals will provide the team with some very welcome revenue that will certainly help reinforce the squad to obtain more Christian Covington calibre talent, necessary if their 2020/21 season is going to be a strong one with a chance of winning their fourth ever Superbowl championship.The advantages that all three deals offer would also be very good news for other facets of the future of the team and the link-up with BetMGM will be particularly beneficial. With Broncos fans being able to win exclusive VIP packages at MGM resorts around the world with MGM customers now being eligible for Denver Broncos prizes, this is expected to open up a wide variety of mutually beneficial promotions.
This is the kind of sponsorship arrangement that has already proven to be very popular in other worldwide sports, including the UK Premier League soccer. In reality, many of the top-tier clubs rely heavily on sponsorship from sponsors who, in turn, profit from the many opportunities for corporate hospitality provided on match days to their customers.The Denver Broncos are also the first NFL team to enter into these forms of agreements. For example, but not in such a formal way, the New York Jets and Giants have ties with FanDuel. Also special is the fact that all three agreements are set to last for several seasons which shows the dedication displayed on both sides.Looking to the future, several other allegiances of this sort tend to be more than likely to be established, and a number of NFL teams must surely look at it with interest. And with such a loyal fanbase that will certainly be willing to bet on their favourite team, this really has to be quite good news for the state of Colorado, which stands to benefit from the tax revenue it will generate.