With $38M In Bets, Colorado Handle Up 50% From May To June
The Colorado sports betting industry consistently showcases the remarkable heights of its objectives.
The Colorado Division of Gaming released their sports gambling control for June on Tuesday.
Please note that during this period, there were six CO sports betting apps and one retail sportsbook operating for the month, despite the absence of major US sports due to the COVID-19 pandemic.
However, Colorado’s sports betting handle in June reached a market cap of $38.1 million.
According to the state’s announcement, there has been a 49% surge in comparison to the $25.6 million handle in May.
The taxes paid by the state for the handle amounted to $217,023.40.
Dan Hartman, the manager of the Division of Gaming, expressed:
June totals indicate a positive trend moving forward, with the addition of new users and retail spaces opening up. We are excited to see the outcome of potential activities, as well as the performance of operators.
Here’s an overview of the betting breakdown for June.
| by game, bet | Handle | ( GGR ) Revenue |
|---|---|---|
| a game of table golf | $9,148,984 | $535,423 |
| Soccer | $4,136,069 | $288,627 |
| Golf | $3,426,742 | $459,847 |
| MMA | $2,159,116 | $7,668 |
| Tennis | $1,336,628 | $60,468 |
| Baseball | $1,238,543 | $37,247 |
| Motorsports | $617,683 | $98,502 |
| Basketball | $442,546 | $97,841 |
| Boxing | $315,522 | $36,193 |
| Football | $94,437 | $91,330 |
| Parlay | $4,673,441 | $791,758 |
| Other | $10,537,238 | $955,247 |
| Total | $38,136,949 | $3,484,015 |
According to the Division of Gaming, the “other” category refers to all sports that do not rank in the top ten. This category is included to ensure that the column’s total amount wagered is complete. In June, the gaming division included rugby, ice hockey, snooker, NCAA future bets, and other options from the Colorado sports betting catalog. However, these sports collectively made less than the $94,436 generated by football.
The alluring statistic worth considering is the reward offered by various bookmakers.
In May, a distribution of $1.5 million was made, followed by an additional $1.2 million in June. As of now, they have won a total of $2.7 million, indicating that promotional bets accounted for 4.8% of all wagers.
Colorado also adores table sport.
For an entire month, table tennis remained the favorite sport among Colorado sports bettors.
A sum of $9.1 million was earned by the specialized sport.
Afterwards,
- $ 4.1 million in sports
- Golf$ 3.4 million
- $2.2 million in mixed martial arts (MMA)
- A sum of $1.3 million in the sport of tennis.
- Baseball$ 1. 2 million
Hockey and spears achieved top 10 positions in May but missed the opportunity to travel there in June.
With the Colorado Rockies back in action and fans in Colorado getting their first taste of MLB betting, along with the imminent returns of NBA and NHL, the handle is expected to soar over the next few months.
Every day, it seems that more apps are announcing their launch or their intention to enter the Colorado market. Currently, there are a total of 10 Colorado betting sites and apps, as well as five retail sportsbooks that are operational within the state.
There is a logical expectation for the continued excitement surrounding the recently established sports betting industry, which has been in operation for two months.
Keep checking back on PlayinСolorado for the latest updates on this developing story.
