Just 10 days after the initial rollout of CO mobile betting apps, a new player joined the market. BetMonarch opened up shop as Monarch Casino’s online betting app on Monday, bringing the total number of Colorado mobile sportsbooks to five.
Given its legal landscape and proximity to Nevada, Colorado is set up to be among the leaders in the nation in regard to the number of choices of sportsbook operators.
By launching the app in CO, Monarch becomes another brand that has made Colorado its first expansion. It is also the first local brand to hit the market. The app uses Monarch Casino’s sports betting license to operate. While that’s no guarantee that there won’t be a dominant player in the market, competition is good for bettors.
Details on the BetMonarch app
The BetMonarch Android and iOS apps for CO are now live. In a somewhat unusual move, there is no desktop version of the sportsbook. All BetMonarch wagers must be done via app.
Monarch also operates the Atlantis Casino Resort Spa in Reno. This is the first foray for the brand in terms of sports betting outside of Nevada.
Circa Sports and the popular SuperBook USA are two other brands that plan to make Colorado their first excursions outside of NV. So far, neither brand has announced an official go-live date.
Perhaps the most unique element of the BetMonarch app is its integration into Monarch Rewards. Bettors can earn comps and tier points to use for dining and hotel stays among other things. Most sportsbooks do not offer casino rewards for betting.
Until then, BetMonarch will try its hand at gaining market share of the online sports betting landscape. While there are some potential downsides to a crowded market, for the most part, it’s a win for CO bettors.
Why more apps could be bettor for CO bettors
Low barriers to entry in the sports betting game can detract from the quality of the experience. For example, an operator without appropriate resources may find it difficult to maintain the cash flow necessary to provide a good product.
For the most part, however, license approval requirements ensure that operators have the necessary working capital. Beyond that, there are some great aspects to a competitive market.
First off, the competition provides an incentive for operators to continually offer promotional campaigns. These can take the form of deposit matches, guarantees against lost bets, and odds boosts.
The same goes for the lines on popular sporting events. If you look at the odds on a market as the price you pay for the experience, sportsbooks don’t want to be undersold by their competitors.
For Coloradans who enjoy the experience of a brick-and-mortar sportsbook, this takes on another dimension. Such facilities are competing to offer the best ambiance and amenities for patrons. In fact, Monarch is in the process of building its own brand-new retail sportsbook.