- Sports betting revenue in Colorado has increased by 48.8% in June from May.
- This growth comes from a combination of the return of sporting events as well as the opening of a new operator in the state.
- The CO betting handle taken in June was $38.1 million.
DENVER – Sports betting in Colorado has been a major hit in its two-month life span. The Centennial State has seen an increase in betting revenue in the month of June.
With the return of sporting leagues and events that were on hold due to the coronavirus, Colorado’s revenue benefited greatly. There is also the fact that Colorado has added yet another sports betting entity to its regulations, giving sports bettors even more outlets to get in on the action.
Revenue
Colorado sports bettors have been embracing the regulated market heavily in June as the revenue numbers indicate massive increases.
According to the Colorado revenue reports, the market has taken in a betting handle of $38.1 million for the month. This is a 48.8% increase from the May totals.
The Centennial State saw increases in wagering across all of its regulated sportsbooks during June which could be accredited to the return of sports. In June, there were seven sports betting operators that Colorado sports bettors were getting in on the action with.
Those being BetMGM, BetMonarch, BetRivers, DraftKings Sportsbook, FanDuel Sportsbook, Fox Bet, and SBK. These sports betting operators have garnered the bulk of the betting market in Colorado.
The next couple of months will be the real image of what Colorado sports betting will look like.
Betting on the MLB season will be accounted for as the 60-game season has just begun. Colorado will also see an increase in betting handle from NBA betting as the season resumes July 30.
The next few months are gearing up to have even more of an increase in betting handle and revenue for the Colorado market. Legal sports betting in Colorado has already proven to be successful in a strange sports year. The future is only expected to go up as time progresses.
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News tags: BetMGM | BetMonarch | Colorado | Denver | DraftKings Sportsbook | FanDuel Sportsbook | FOX Bet | SBK
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.
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