Philadelphia-based sports betting operator Sporttrade announced Monday it has officially launched its sportsbook in Colorado, marking the second jurisdiction the sports betting exchange has gained market access in the United States.
Sporttrade, which partnered with casino owner GF Gaming for its launch of sports betting operations in the Centennial State, has also been awarded sports wagering and exchange licenses in New Jersey.
Alex Kane, Sporttrade Founder and CEO, said: “Today we’re privileged to introduce the Sporttrade experience in Colorado. 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,” he added.
For his part, Roger Brown, General Manager of GF Gaming and Easy Street Casino, commented: “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.”
“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,” he noted.
Good morning, Colorado 👋 Sporttrade is now live 🏔️ pic.twitter.com/1LqtBPrZii
— Sporttrade (@sporttrade_app) August 29, 2023
The company will operate in Colorado as a sportsbook despite being licensed in New Jersey as a sports betting exchange. As an exchange in New Jersey, Sporttrade allows users to bet directly against one another or the market rather than a sports betting operator. However, in Colorado, peer-to-peer exchange wagering has not received government approval.
Sporttrade’s launch in Colorado follows the approval of its business operations by the Colorado Limited Gaming Control Commission earlier this month. The company was issued a “First Temporary Sports Betting Internet Operator license” by the CLGCC.
Sporttrade enters Colorado as the state continues to showcase impressive amounts of growth. Bettors have created over $12 billion in handle since 2020. Most recently, in June 2023, the state’s sportsbooks accepted $310.6 million in wagers. “Sporttrade’s structure will allow Coloradans to finally benefit from better odds, impressive liquidity, and in-play experience,” the company noted in a press release.
Sporttrade is also exploring additional markets, with the company currently eyeing expansion in Indiana and Louisiana.