Trust Payments subsidiary granted sports betting vendor license in Colorado

The US branch of Trust Payments, the leading unified payments Group for global pay-in, pay-out and customer journey technologies, has been granted a vendor license for its US gaming platform by Colorado’s Division of Gaming. The license permits the company to process payments on legal bets placed within the state as well as run customer onboarding and verification on players for the licensed operators within Colorado

Jonathan O’Connor, CEO of the US division of EU based Trust Payments said: “I’m delighted that we have been awarded a license in Colorado. This complements our existing licenses in New Jersey, Pennsylvania and Nevada and positions us for further expansion and growth in the US. Our ambition is to support operators in all US states where sports betting is legal.”

Kevin Dodson, SVP Gaming at Trust Payments said: “This is great news for all of our existing and future customers. We are looking forward to delivering our unified offering for pay-in and pay-out services to operators within Colorado.”

Sports betting has been legal in Colorado since May 2020, making Colorado one of 23 states to have passed legislation allowing players to place bets on sporting events since the Supreme Court ruled the Professional and Amateur Sports Protection Act of 1992 (PASPA) to be unconstitutional, thus allowing individual states the power to regulate sports betting within their borders. Colorado has a bright future, capable at maturity of annually generating as much as $6 billion in bets, $400 million in gross operator revenue, and $40 million in tax revenue, according to estimates by PlayColorado.com, which analyzes the state’s newly regulated sports betting market.