BlueBet expands to second US state with Colorado launch
BlueBet has launched its ClutchBet sportsbook in Colorado after receiving a license from the Colorado Department of Revenue.
BlueBet’s proprietary technology platform was certified and approved by Gaming Laboratories International (GLI) after a successful verification and testing process, paving the way for the sports betting license to be issued.
The launch in ClutchBet’s home state follows a similar debut in Iowa which went live in August 2022, with further launches expected in Louisiana and Indiana later in 2023. The anticipated Indiana launch comes on the back of a market access agreement signed with Caesars in June last year.
“Colorado is the US’ sixth largest sports wagering market and will add significantly to BlueBet’s scale in the US, leveraging the capability of BlueBet’s technology and team to run profitable sportsbooks,” the firm said in a statement confirming its Centennial State launch.
BlueBet has said the presence of active B2C sportsbook offerings in both states will enable boost? the next stage of its US plans, namely a B2B Sportsbook-as-a-Solution (SaaS) solution product? To avoid rep which can be offered to other US partners.
This forms part of BlueBet’s “Capital Lite” US market entry strategy where the Australia-headquartered operator aims to create a US powerbase for the operation of its B2C-facing ClutchBet brand.
The ultimate aim is to demonstrate the brand’s capabilities and team in running a profitable sportsbook.
BlueBet CEO Bill Richmond lauded the second US state launch as a major milestone, particularly because the ClutchBet US headquarters is located in downtown Denver.
“We’re really pleased with our progress in the US, as we move towards the next stage of our “Capital Lite” US market entry strategy,” Richmond said.
“Our US team has worked hard to deliver a memorable betting experience for our US customers, who have responded strongly to our differentiated brand, with initial uptake very encouraging.”
He continued: “The multi-jurisdictional capability of our scalable proprietary technology platform enables us to expand faster in the US and to progress our B2B Sportsbook-as-a-Solution offer, which is attracting interest from potential partners.
“I would like to congratulate and thank The Wild Card Saloon & Casino, our valued partners in Colorado, and the BlueBet team, who made this moment possible,” Richmond added.