Thursday, September 23, 2021

Colorado establishes new sports betting company and up to 441 jobs

Tipico, a sports betting online company, has selected Colorado as the site of its new technology center and said it will bring as many as 441 jobs to the state in the next eight years.

Colorado defeated the finalists in Texas, North Carolina and Georgia. Tipico was established in Europe in 2004, with a 42-person office in Hoboken, New Jersey, and recently launched a sports betting product in the Centennial State.

Colorado voters approved sports betting in 2019. Casinos in the state can apply for a license for physical or online sports betting and pay a 10% tax on net proceeds, most of which is used in the state’s water program.

“This move proves what we already know: Colorado is the best place to live and work, and because of this vote-driven decision, Colorado will create 441 new jobs,” Governor Jared Polis said on Tipico Sportsbook on Wednesday Said in the announcement.

The Speaker of the Colorado House of Representatives and Denver Democrat Alec Garnett sponsored a bipartisan proposal on sports betting that has been included in the ballot. According to state officials, online gambling began in May 2020 and generated $8 million in taxes in the first year.

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Colorado establishes new sports betting company and up to 441 jobs
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