Colorado has added another online sportsbook to its ranks, welcoming Sporttrade to the state as the company’s mobile app officially launches.

Sporttrade has been live since September 2022 in New Jersey, and Colorado marks the company’s first expansion. Notably, yet unsurprisingly, the Philadelphia based operator’s flagship betting exchange product is missing from the mobile app despite a full Colorado mobile sports betting launch.

The company is initially running a traditional sportsbook, but will look to release its exchange pending Colorado Limited Gaming Control Commission’s decision on rules and regulations which have been delayed.

In New Jersey, Sporttrade allows bettors to set prices against each other, facilitating peer-to-peer wagering through its exchange feature. The company then takes a 2% cut when users match.

While Colorado sports betting law does allow for exchanges, the sticking point remains the taxation structure of the exchange model. Given the margin taken by exchanges is considerably lower, there are concerns over the potential net benefit to the state, and whether there’ll be substantial taxable revenue. Commissioners also expressed late concerns that exchanges may create a tax loophole should they be poorly regulated.

“Today we’re privileged to introduce the Sporttrade experience in Colorado,” commented Alex Kane, Sporttrade Founder and CEO in a release. “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.”

He continued :”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. Thank you to the wonderful folks at the Colorado Division of Gaming, thank you to our growing family of customers, and most of all, I want to thank the fantastic Sporttrade team of employees, advisors, and investors.”

Roger Brown, General Manager of GF Gaming and Easy Street Casino (Sporttrade’s partner for CO launch) stated: “Having seen what Spottrade 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.”