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.
The average salary for these 441 potential jobs is estimated to be US$96,315, which is 128% of the average annual salary in Denver. These jobs will include software development, cloud infrastructure, local and mobile application development, product management and data engineering, as well as operations, marketing, finance, and customer service positions.
According to data from the Colorado Office of Economic Development and International Trade, the state approved up to $7.5 million in employment growth incentive tax credits to Tipico over eight years. The company started looking for locations by looking at 100 U.S. cities.
Adrian Vella, CEO of Tipico US, said: “From world-class universities and collaborative technology communities to the state’s well-documented high-quality living, every metric we searched across the country pointed us to Colorado. “A statement.
Tipico is Germany’s leading sports betting provider. The Tipico group of companies has more than 1,800 employees worldwide, and another 4,200 employees are in the relevant franchise network.