Colorado’s crowded sports betting market has welcomed another company: ClutchBet Sportsbook is now available for download in the state.
ClutchBet Sportsbook is currently operating in two states, having previously debuted in Michigan. In Colorado, the company obtained market access through a partnership with the Wild Card Cabaret Casino in Black Hawk.
ClutchBet Sportsbook Colorado began accepting online wagers on June 7. Users can fund their accounts through many of the traditional methods, such as eCheck, bank transfer, debit card, and PayPal.
ClutchBet sportsbook may be the 26th Co sports betting owner
There are more than 20 licensed Colorado gambling apps, the most of any state. Colorado legalized gambling in 2019, with mobile betting apps going online in May 2020. Through April 2023, the state’s sportsbooks have accepted more than $12 billion in wagers, resulting in $43.8 million in tax revenue.
ClutchBet Sportsbook is the 26th gambling app to enter the Colorado market. Fans, who recently acquired PointsBet, may join the competition at some point later this year. Consumers benefit from regulatory oversight from the Colorado Limited Gaming Control Commission, which issues licenses for sports betting in the Mile High State.
ClutchBet is owned by Australian-based BlueBet Corporation Ltd. It offers several unique betting products such as ClutchClash, a boosted odds offer, and HyperLive, a micro-betting feature that allows users to wager on practically any minute of a future or ongoing sporting event. ClutchBet also has agreements for market access in Louisiana and Indiana.
ClutchBet sportsbook will certainly add to currently successful Co sports betting taxes revenue
This news of ClutchBet entering the marketplace follows the sluggish record on gambling revenue for April in Colorado. Total handle decreased by $76.6 million compared to March, even though the Denver Nuggets experienced smashing success as the season turned to the NBA Playoffs. Still, April saw a 6.5% increase in total handle compared to the previous year’s April.
Despite the revenue dip, gambling continues to be a boon for the state. It’s projected that Colorado could collect as much as $24 million in tax revenue from the activity in the 2022-2023 fiscal reporting, which would be nearly double the figure from 2021-2022.
Colorado gamblers must be at least 21 years old to download and register an account with ClutchBet Sportsbook. The state allows betting on the NFL, NBA, MLB, NHL, and many other popular sports. Users can bet on college sports as well as place parlay and futures bets, along with traditional “American Odds,” and moneyline bets.
Serta Holmes writes about gambling, sports media, and gambling legislative issues. He’s the author of three books and previously reported for Major League Baseball, as well as the National Football Hall of Fame and Museum.
