Colorado Sportsbooks Shatter Records With $574 Million in January Wagers
The state & ’s hot streak, which started in September, was extended by January & requo, whose$ 574 million in wagering. According to PlayinСolorado, which monitors the state-and-’s regulated sports betting market, it most likely put Colorado in in the U.S. for the volume of sports bets in January.
According to Ian St. Clair, lead analyst for playin-colorado.com, The NFL & ’s decision to expand the playoffs and add an extra week of regular-season games was a boon for sportsbooks, but the NBA still ranks as the state & requo, hottest bet. Bookmakers may continue to discover high gaming size amounts before the season officially ends in the spring with the Super Bowl in February and the NCAA Tournament in March. & rdquo,
According to data released by the Colorado Division of Gaming on Tuesday, wagers at Colorado & , both online and physical sportsbooks, increased by 75.5 % from$ 326.9 million in January 2021 to$ 573.7 million. The state’s wagering for January & , which reached$ 491.5 million last October, was another record.
Higher bets amount was only reported in New York, New Jersey, Nevada, and Pennsylvania in January. When that position releases its January files, Illinois most likely will.
January&;s handle included $567 million in online bets, or 98.8% of the total handle. With that, Colorado&;s online sportsbooks have now collected $4.4 billion since launching in May 2020.
Sportsbooks increased their gross revenue from January and wagers to$ 34. 6 million, an increase of 49.7 % from$ 27. 7 million in January 2021 and 40.1 % from$ 204.6 million. Sportsbooks earned$ 11.7 million in taxable income after receiving$ 21. 5 million worth of commercial credits. That resulted in status tax totaling$ 1.5 million, the second-highest amount ever for the position.
According to Eric Ramsey, an analyst for the PlayUSA.com network, which also includes PlayinСolorado, & , Colorado & ’s emphasis on mobile betting continues to produce impressive results month after month. & , Despite a wave of legalization over the past year, the state continues to be one of the most cutting-edge and prosperous markets in the United States.
Professional football betting increased to$ 144.1 million from$ 136.5 million in December as a result of the active NFL schedule, which included games over five different vacation. Bet on professional sports increased from$ 125.5 million in December to$ 163.6 million.
Additionally, significant action was generated by college basketball($ 63.1 million ), ice hockey($ 24.7 ), tennis($ 20. ), college football ($ 1. 6 ) and soccer($ 14.7 million ).
The soccer year has brought sports betting to a new level, according to St. Clair. It is difficult to imagine the past five months going any better, & . & rdquo,
For more information and analysis on regulated sports betting in Colorado, visit playin-colorado.com/revenue.
Contact: Zack Hall, Catena Media,&;[email protected]