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University of Colorado, PointsBet mutually end partnership with regulation looming

A one-of-a-kind deal is done after two years.

Syndication: Akron Beacon Journal Mike Cardew / USA TODAY NETWORK

All bets are off in Boulder. The University of Colorado and PointsBet have decided to end their partnership agreement this week after nearly two years on the books.

The announcement comes following a series of limiting guidelines set forth by the AGA (American Gambling Association) in reference to how sports betting is marketed on college campuses. U.S. lawmakers and educators have demanded more regulation with the overwhelming number of sportsbook properties coming online around the country.

Pointsbet’s deal with CU was the first in major collegiate sports and had over three years remaining prior to termination. Colorado raked in $1.6 million to “promote sports gambling on campus,” according to a report by SBJ. “PointsBet and the University of Colorado have decided it is mutually beneficial to end their partnership at this time,” a PointsBet spokesman said in a statement.

The AGA is now tasked with ensuring similar deals with other college institutions are not made going forward. No word if congress will enact laws in conjunction with the association’s guidelines.