SI Sportsbook announced it is the latest in a series of smaller sportsbooks to leave the Centennial State, following a trend of lower-tiered sportsbooks doing the same in other states.
Pulling Up Stakes
Colorado has seen several sportsbooks leaving its market, unable to gain traction against mid-size and major industry sports betting platforms. Since June 2023, SI Sportsbook is now the seventh sports betting app to go dark in Colorado, including Betfred, Betsafe, ClutchBet, Novig, SuperBook, and WynnBet. It is also the fourth sportsbook to leave the market in the past month.
Las Vegas-based industry consultant Brendan Bussmann commented on the exodus of niche sportsbooks pulling up stakes and leaving domestic sports betting markets.
“This has happened with land operators, and to see it happen with sports betting and online gambling, it’s not surprising. But you also (eventually) see a resurgence, as we’ve seen in DFS… Sleepr, Underdog, PrizePicks. Where were they five years ago as compared to today? People will say that they were operating in an illegal way, but DraftKings and FanDuel got kicked out of Nevada 10 years ago.”
Innovation the Solution
“There is always room for smaller operations that want to innovate and compete in a meaningful way,” Bussmann said. “Those that want to innovate will thrive; those that don’t and repeat what exists out there will wither.”
New Player Enters the Game
It should be noted that while those four have exited Colorado over the past 30 days, Sporttrade, a Philadelphia-based sports betting operator, in conjunction with its strategic partner GF Gaming, recently launched in Colorado.
“Today we’re privileged to introduce the Sporttrade experience in Colorado,” said Alex Kane, Sporttrade Founder and CEO. “Our launch today proves that Sporttrade can operate in any jurisdiction, with the same great features our customers have come to know us for: instant in-play betting, great prices, awesome liquidity, and the ability to always trade in and out of bets at fair value.”
“As our industry continues to shift focus towards differentiation and product, I’m proud to say that Sporttrade delivers the best in-play experience the world has ever seen,” said Kane. “Thank you to the wonderful folks at the Colorado Division of Gaming, thank you to our growing family of customers, and most of all, I want to thank the fantastic Sporttrade team of employees, advisors, and investors.”
Sporttrade’s claim to fame is a seamless betting experience for in-game wagers without the customary delays many betting platforms experience. The company is trying to mirror the same instantaneous transaction time one would find in financial markets and bring that to its customers who enjoy betting on the game as the action happens.
“Having seen what Sporttrade has already achieved with its innovative and successful launch in New Jersey, we firmly believe that the brand and platform make for an ideal partnership for us in Colorado,” said Roger Brown, General Manager of GF Gaming and Easy Street Casino. “Providing a better odds experience for the player is what GF Gaming has always been about, and Sporttrade brings that same priority to the sports betting market in Colorado.”
