Smarkets Announces Colorado Launch Of Mobile Sports Betting App SBK

Smarkets announced their entrance into the Colorado sports betting market on Thursday, June 4 with the release of a mobile app in partnership with Full House Resorts, owners of Bronco Billy’s Casino in Cripple Creek. Colorado SBK Sportsbook is the seventh licensed app the state has approved since launching sports betting on May 1.

“Ten years after the Smarkets exchange went live in the UK, this is another massive landmark for us as a business,” said Smarkets CEO/Founder Jason Trost.

“It is our mission to upend this old-fashioned industry so I’m excited for Americans to enjoy some of the best odds in the world, as well as the carefully crafted customer experience we provide compared to the big sportsbooks.”

The company joins six other gaming companies, including DraftKings and FanDuel, offering mobile sportsbooks apps in Colorado. The state expects to have 20 digital sportsbooks in the coming months.

Smarkets, located in London, has made its mark in the UK by offering bets on sports and politics. And while they won’t offer odds on the upcoming U.S. Presidential election, the company has plans to offer a wide variety of traditional and prop bets on sporting events via the app from around the world.

Smarkets Uses Their Own Odds to Set Lines

Grabbing the bettor’s attention is one of the reasons why Smarkets has succeeded in England. Smarkets’ app offers a social networking element that allows bettors to interact and share their picks. The company touts on their website that their betting platform offers a “sleek social experience.”

What makes Smarkets stand out from other Colorado betting apps is that the company sets their own lines. The ability to adjust odds on the fly, allows the company to offer faster in-game bets.

Smarkets believes their proprietary in-house technology gives bettors a more customized experience that creates market awareness.

How Smarkets’ Exchange Betting Could Revolutionize the Market

Smarkets also offers exchange market betting for customers. This unique style of betting gives bettors the opportunity to take the other side of a wager. Let’s say one bettor wants to take the Denver Nuggets to win the NBA title. But there is another bettor who wants action on the opposite side of the wager.

The company’s exchange will allow the bettors to match and place the wager between the two parties. Smarkets handles the money of the bet, working as an intermediary that awards the winners once the wager is decided.

Exchange betting is legal for Colorado sportsbooks as long as they have approval from the state’s Division of Gaming Enforcement.

For now, Smarkets plans to only offer online sports betting to customers. It’s not yet known if the will operate a retail sportsbook in Cripple Creek.

About the Author

Derek Worlow

Derek Worlow is a freelance writer that has covered the expansion of legal sports betting in America for several well-known industry websites. During his writing career, he has written profiles on dozens of athletes and contributed work on the collision of sports and politics. Derek has also published two acclaimed biographies about Texas quarterbacks; Johnny Manziel and Robert Griffin III.