Colorado Sees Big Boost In Second Month Of Sports Betting

Colorado Sees Big Boost In Second Month Of Sports Betting
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Colorado saw a 49% increase in sports betting handle in June, the second month of legal sports wagering in the state.

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

RELATED: More about Colorado sports betting and gaming

The June figures were based on six online operators and one retail sportsbook location operating during the month, the Division of Gaming said in its release.

Revenue was $3,484,015, a 36% increase over May's $2,565,729. Net sports betting proceeds in June were $2,169,978, up 129% from May’s $946,741. Total taxes collected in June were $217,023, an increase of 125% from May’s $96,538 in taxes.

Colorado Sports Betting, June vs. May

June MayChange
Total Handle$38.137M$25.622M +48.8%
Net Proceeds$2.170M$0.947M+129.2%

Table Tennis Still Dominates

For the second month, table tennis was the sport most bet on — by far — in Colorado.

Table tennis saw $9,148,984 in bets in June followed by soccer ($4,136,069), golf ($3,436,743), MMA ($2,159,116) and tennis ($1,336,628). Sports considered “other” had $10,537,237 in wagers.

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

The table tennis reign should end soon as major sports leagues (MLB, NBA and NHL) have started or are about to resume their seasons.

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

Colorado Market Should Continue to Grow

When the market went live on May 1, four online sportsbooks were up and running and the betting options were limited — mainly just international table tennis and eSports were available.

But the Division of Gaming noted that additional internet operators and retail locations have recently entered the market. The number of online sportsbooks has already more than doubled since May 1.

Casinos started reopening in mid-June, as did some retail sportsbooks. The first retail sports bet was placed at the Saratoga Casino in Black Hawk on June 17 at its sportsbook, which is operated by Betfred USA. Monarch Casino Black Hawk, Wildwood Casino in Cripple Creek and Ameristar Casino Black Hawk are also operational in the state, according to the gaming control commission's website.

In addition, DraftKings opened a temporary retail sportsbook at the Mardi Gras Casino in Black Hawk on July 10. The sportsbook at the Mardi Gras is the seventh DraftKings-branded retail location, joining venues in Iowa, Mississippi, New Jersey and New York.

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