Colorado Sports Betting Wagers Continue to Climb with Football’s Return
LAKEWOOD, Friday, October 23, 2020– Football’s return yielded big returns for the booming Colorado sports betting market, with total wagers again surpassing that of the prior month. The Colorado Department of Revenue’s Division of Gaming released the monthly figures for September’s sports betting wagering and taxes and is reporting another significant increase of 61% in total handle over the month prior.
The total handle for both retail and online sports betting wagers in Colorado in September totaled $207,655,942. Mobile betting continues to account for a majority of the total betting handle, with 98% of wagers made online and 2% of wagers placed in a retail location.
The top sport wagered on in September was baseball with $47.1 million in wagers placed in with both retail and online operators, followed by professional American football in the second spot with $38.6 million, and in third was basketball with $37.7 million in total wagers. The return to play for football outpaced initial bets placed on the other major sports leagues, with $13.2 million wagers placed on the first weekend of professional football play. Comparatively, the wagers placed for the first four days of play resulted in $4.2 million total bets on basketball, and $3.4 million was wagered on baseball.
Colorado continues to establish itself as a fierce competitor in the U.S. sports wagering market. Industry control regulations and market growth potential have made Colorado an attractive and enticing market for sportsbook operators. Currently, Colorado has 15 licensed online operators and 11 retail operators operating mobile and in-person sportsbooks.
On November 6, 2019, Colorado voters passed Proposition DD, establishing Colorado as one of many states across the country to allow people to place legal bets on sporting events since the Supreme Court ruling struck down a law that banned sports betting in most U.S. states. With the passage of Proposition DD and the legislative bill passed by the Colorado General Assembly in May 2019, the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming became the statutory authority over the regulation of the legalized sports betting in Colorado. Legalized, regulated sports betting began in Colorado on May 1, 2020.
To view the published report, visit colorado.gov/pacific/sites/default/files/Colorado%20Sports%20Betting%20Proceeds%20September%202020.pdf