Basketball Betting Still King in Colorado, Even if February Numbers Down from January

Basketball Betting Still King in Colorado, Even if February Numbers Down from January

For the second month in a row, basketball was the most popular bet on sport in Colorado.

Professional basketball made up $155.6 million of the state’s $440.5 million handle in February, while college basketball was second at $68.2 million.

Colorado bettors have reason to be interested in betting the NBA. The local team, the Denver Nuggets, are currently fifth in the Western Conference at 47-32 but have not been a profitable team to back this year against the spread. The Nuggets are just 36-43 against the spread, covering at a 45.6% rate. It’s the 10th-worst cover percentage in the league.

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Jokic Could Reward Local Bettors

Any Colorado bettors who backed Denver forward Nikola Jokic to repeat as MVP could see themselves cashing the 15/1 preseason ticket.

Jokic is currently the MVP favorite at FanDuel Sportsbook (-310) as the final week of the NBA regular season is set to conclude on Sunday.

Jokic is averaging 26.8 points, 13.7 rebounds and 8 assists per game, which is identical to last season’s 26.4 points, 10.8 rebounds and 8.3 assists he averaged during his MVP season a year ago.

Philadelphia’s Joel Embiid (+250) and Milwaukee’s Giannis Antetokoumpo (+550) have the next best odds to win MVP.

In other future bets, the Nuggets are currently +2700 to win the NBA title at FanDuel Sportsbook and +1100 to win the Western Conference.

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Denver Hockey

Hockey was fourth in February for handle, taking in $24.1 million in bets. Football was third at $31.4 million with the Super Bowl responsible for the majority of the month’s handle.

Colorado has two top teams at the college and professional level: the Denver Pioneers and Colorado Avalanche.

Denver heads to Boston on Thursday to take part in the Frozen Four. At DraftKings Sportsbook, the Pioneers are +1.5 (-175) on the puck line for its matchup against Michigan (-165 moneyline). Denver is also a +135 moneyline underdog and is +350 to win the NCAA title.

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Michigan (+150), Minnesota State (+275) and Minnesota (+380) are the other Frozen Four contestants, with Minnesota State a –130 moneyline favorite for its semifinal contest against in-state rival Minnesota.

In the NHL, the Avalanche have the best record in the league at 49-14 and feature a league-high 104 points. Colorado is the favorite at BetMGM to win the Stanley Cup at +375. The Avalanche are also favored to win the Western Conference (+150).

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Colorado Sports Betting, February vs. January

Total Handle Mobile HandleRevenue (GGR)
February$440.508M$434.925M $19.604M
January$573.720M$567.107M$34.640M
Change Down 23.2% Down 23.3% Down 43.4%

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Other February Figures

Mobile sports betting made up the majority of wagers in February, with $434.9 million of bets placed online, down 23.3% from January’s $567.1 million and was 68.4% higher than February 2021’s $258.2 million.

Colorado’s February revenue came to $19.6 million, a decrease of 43.4% from January’s $34.6 million and was 87.7% higher than February 2021’s $10.4 million.

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