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Growth in Iowa's Sports Betting Market and Maine's Revenue Trends for Fiscal Year 2024
Betfred Sportsbooks Go Live in Iowa and Colorado
September 14, 2020 Alex Hoffmann
A subsidiary of Betfred Group, a United Kingdom-based bookmaker, Betfred USA Sports, has announced entry into two new jurisdictions across the country. The operator is launching its online sports betting products within Colorado and Iowa, extending the brand’s authentic betting experience on the US market.
The launch within these two territories will give each customer an opportunity to wager from anywhere, anytime and on any device. To be more clear, sports fans will from now on have access to dedicated pages for college and professional sporting events, including real-time updates on a variety of betting types.
As reported, special offers are available in each state with new s in Colorado acquiring a risk-free bet up to $500, while in Iowa they will attain a single 100% deposit match up to $200.
Additional States Coming Soon
With new retail sportsbooks and online sports betting in Iowa and Colorado, Betfred USA Sports continues to build a strong footprint on the US market. The company has already debuted in Meadowlands, NJ back in April 2019 and became the official sports betting partner of NFL’s Denver Broncos in June this year.
After providing OpenSports in Colorado.
“Launching Betfred Sports online betting in Colorado and Iowa in time for the football season is a significant milestone for us,” said Bryan Bennett, chief operating office of Betfred USA Sports.
Bennett added:
“We look forward to utilizing our various partnerships including the Denver Broncos, Sanford International, Grand Falls Casino & Golf Resort and Saratoga Casino Black Hawk to grow our online base and take advantage of our unique offers.”
Betfred Group was founded by brothers Fred and Peter Done in 1967, while the US division was created in 2019 due to the robust and ever-expanding US sports betting market. The brand is licensed to operate in Iowa, Pennsylvania and Colorado, while Nevada is pending for regulatory approval.
Bid for Bankrupt Phumelela
Back in August, the British operator made an offer to purchase struggling South African racing operator Phumelela for either ZAR875m or ZAR925m (£39.6m-£41.9m). The deal should have served as an alternative to Phumelela’s business rescue plan, but the property’s bankruptcy auditor refused to review Betfred’s counteroffer.
“In the face of a challenging global and domestic economic environment, the offer represents a vote of confidence in the South African economy and a direct response to President Ramaphosa’s drive to boost the South African economy by securing USD$100 billion in foreign investment by 2023,” Betfred said.
The owner, Mary Oppenheimer Daughters (MOD), of the South Africa’s largest mining family, will launch a ‘post-conflict-fund’ of ZAR 550 million, providing a payment plan for the company’s existing creditors. The Oppenheimer family is set to pay ZAR 480 million to acquire Phumelela’s racetrack and broadcast properties.
Source:
“Betfred USA Sports Launches Online Betting in Colorado and Iowa”, prnewswire.com, September 10th, 2020.
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The market is growing at a faster rate as the year comes to a close. Hopefully the situation in the world gets better so we can all pay a visit to one of their sportsbooks.