Hard Rock International starts operations in Colorado, with Betfred ceasing US activities.
Hard Rock Bet Expands in Colorado as Betfred Exits U.S. Market
Hard Rock Bet, a well-known brand in the world of gambling, has launched in Colorado, marking its ninth state in the U.S. This move comes as Betfred, another British bookmaker, prepares to close its final active sportsbook in the country.
Hard Rock Bet's entry into Colorado is made possible through a market access agreement with Johnny Nolon's Casino in Cripple Creek. The company is betting on long-term viability, even as other operators fold, by offering innovative rewards programs to capture users in a competitive market.
The newly launched online sportsbook in Colorado features the Legendary Rewards Drop program, a tiered loyalty system that offers benefits such as weekly bonus bets, parlay insurance, and personalized promotions. These features are integrated with Hard Rock's broader loyalty platform Unity, aiming to differentiate the brand from competitors by rewarding engagement and fostering brand loyalty.
Meanwhile, Betfred is exiting the U.S. market due to strategic decisions, possibly including reallocation of resources or regulatory challenges. This move follows a similar trend seen in the past 18 months with the exit of operators like Tipico, Unibet, SI Sportsbook, and Betway. Betfred's closure in Pennsylvania marks the end of a five-year effort in the legal sports betting industry.
The U.S. sports betting market is increasingly dominated by giants like FanDuel, DraftKings, and BetMGM. Hard Rock Bet's launch in Colorado comes with a "Bet $5, Get $150" bonus offer, aiming to attract new customers in this competitive landscape.
The implications of these moves for the legal sports betting industry are significant. The addition of Hard Rock Bet increases competition and offers consumers new choices. Innovative loyalty programs, like the one offered by Hard Rock Bet, may become key to winning market share.
Entry via partnerships with established casinos remains a legal requirement, shaping market access. Exits by some operators may lead to market consolidation toward stronger or more adaptable companies.
Hard Rock Bet's Colorado launch and Betfred's U.S. withdrawal reflect ongoing market dynamics in legal sports betting. New entrants with strong brand integration and rewards appeal strive to grow in established states, while some operators withdraw, impacting market competition and consumer choice.
Notes:
- Hard Rock Bet Launches in Colorado
- Hard Rock Bet's Colorado Strategy
- Betfred Exits U.S. Market
- Impact of Hard Rock Bet Launch and Betfred Exit on U.S. Sports Betting Market
About the Author:
Michael Molter, a writer, covers legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Prior to writing, Michael spent time scouting college basketball for Florida State University and the University of Alabama.
- Hard Rock Bet, a renowned brand in both casino-and-gambling and sports betting, has ventured into Colorado, marking its ninth state in the U.S., expanding its reach in the legal sports betting industry.
- In an attempt to captivate users in a competitive market, Hard Rock Bet's strategy in Colorado centers around offering innovative rewards programs, such as the Legendary Rewards Drop, which includes weekly bonus bets, parlay insurance, and personalized promotions.
- In a move that follows a trend seen in the past 18 months, Betfred, another British bookmaker, is preparing to exit the U.S. market. Their withdrawal from the industry, starting with the closure of their sportsbook in Pennsylvania, marks the end of a five-year effort in legal sports betting.
- The addition of Hard Rock Bet in Colorado and the exit of Betfred from the U.S. market carry significant implications for the legal sports betting industry. With Hard Rock Bet's entry, consumers gain new choices, while market consolidation may favor stronger or more adaptable companies in response to Betfred's exit.
- As part of its strategy to attract new customers in this highly competitive landscape, Hard Rock Bet's Colorado launch comes with a "Bet $5, Get $150" bonus offer, a testament to the brand's commitment to innovative rewards and strategic growth in established states.
