With $38M In Bets, Colorado Handle Up 50% From May To June
The Colorado sports betting industry keeps demonstrating why objectives are so high.
Tuesday saw the release of the June sports gambling control by the Colorado Division of Gaming.
Keep in mind, this is with six CO sports betting apps and one retail sportsbook open for the month. And it&;s without major US sports, thanks to the COVID-19 pandemic.
Despite all of that, Colorado’s June sports betting handle had a$ 38.1 million market cap.
Per the release from the state, that is a 49% increase over the $25.6 million handle in May.
The handle cost the state$ 217, 023.40 in taxes.
The Division of Gaming’s manager, Dan Hartman, stated:
With new users and retail spaces opening up, & , June totals indicate a positive trend moving forward. We can’t wait to see how potential activities, activities, and operators turn out. & rdquo,
Here & , here’s a look at the overall 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 |
When it comes to the &;other” category, the Division of Gaming notes that is all the other sports that don&;t make the top ten, so that the column adds up to the total amount wagered. The gaming division adds that for June, it included rugby, ice hockey, snooker, NCAA future bets, and other offerings from the Colorado sports betting catalog that were less than the $94,436 that football made.
The reward offered by the different bookmakers is the other definitely intriguing statistic to consider.
They distributed$ 1.5 million in May and$ 1.2 million again in June. That & has so far won$ 2.7 million, which means that 4.8 % of all bets were placed for promotional purposes.
Colorado also adores table sport.
Table tennis was the Colorado sports bettors’ favorites for the next month in a row.
The specialized sport earned a total of$ 9.1 million.
That was then followed by:
- $ 4.1 million in sports
- Golf$ 3.4 million
- $ 2.2 million in MMA
- $ 1.3 million in tennis
- Baseball$ 1. 2 million
Hockey and spears both placed in the top 10 in May but fell short. to travel thither in June.
Now that the Colorado Rockies have returned and fans in Colorado are experiencing MLB betting for the first time, and the NBA and NHL are mere days away from their respective returns, the handle over the coming months will only increase.
Not to mention more apps announce their launch or plans to enter the Colorado market seemingly every day. As it stands now, there are 10 Colorado betting sites and apps, and five retail sportsbooks live in the state.
It makes sense that there are still great anticipation for the two-month-old sports betting business.
Examine back here at PlayinСolorado for updates as this narrative is still developing.
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