Colorado Sees Big Boost In Second Month Of Sports Betting

Colorado sees big boost in the second month of sports betting

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Colorado saw a 49% increase in sports betting in June, the second month of state legal sports betting.

The total amount deployed to Colorado in June was $ 38,136,949, according to a Colorado Department of Revenue Division of Gaming release. The state posted a bet of $ 25,621,761 in May after the sports betting market started on May 1.

CONNECTED: More about Colorado sports betting and games

The June numbers The Division of Gaming said in its press release that six online operators and one sports betting retail location were operating during the month.

Sports betting net revenue was $ 2,169,978 in June, up 129% from $ 946,741 in May. Total taxes collected in June were $ 217,023, an increase of 125% over May taxes of $ 96,538.

Colorado Sports Betting, June vs. May

June Can change
Overall grip $ 38.137 million $ 25.622 million + 48.8%
Net proceeds $ 2.170 million $ 0.947 million + 129.2%

Table tennis still dominates

In the second month, table tennis was by far the most chosen sport in Colorado.

Table tennis bets totaled $ 9,148,984 in June, followed by football ($ 4,136,069), golf ($ 3,436,743), MMA ($ 2,159,116), and tennis ($ 1,336,628). Sports classified as "other" had stakes of $ 10,537,237.

In May, table tennis had $ 6,589,475 under control. Next came MMA ($ 1,742,608), baseball ($ 1,656,613), soccer ($ 1,529,844) and golf ($ 1,423,684).

The table tennis rule should end soon as soon as the big sports leagues (MLB, NBA and NHL) have started or are about to continue their season.

Colorado will have two of the top teams in the NBA (Nuggets) and NHL (Avalanche), which will be used in the respective league bubbles. The Rockies started the 2020 MLB season, which will include 60 games, last week.

The Colorado market should continue to grow

When the market went online on May 1, four online sports bets were in use and betting options were limited – mainly only international table tennis and esports were available.

However, the Division of Gaming noted that more internet operators and retail locations have recently come onto the market. The number of online sports bets has more than doubled since May 1st.

Casino reopening began in mid-June, as did some retail sports betting. The first retail sports bet was placed on June 17 at Saratoga Casino in Black Hawk on their sports betting, operated by Betfred USA. Monarch Casino Black Hawk, Wildwood Casino in Cripple Creek and Ameristar Casino Black Hawk are also operating in the state, according to the Gaming Control Commission website.

DraftKings also opened a temporary sports betting store for retailers at Mardi Gras Casino in Black Hawk on July 10th. Sports betting for Mardi Gras is the seventh retail location of the DraftKings brand and connects venues in Iowa, Mississippi, New Jersey and New York.

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