- Colorado sports betting fans wagered for more than $326.9 million in January.
- Mobile and online sports betting dominated yet again.
- Sportsbooks saw $22.7 million in sports betting revenue.
DENVER – Colorado continues to be one of the bigger sports betting markets in the country, with yet another record-breaking betting handle month in January.
The Mile High State has now seen month-over-month increases in betting handle for the ninth consecutive month.
Online and mobile betting continues to be the primary way players bet on sports in Colorado. This could be brought on by the state still recovering from the pandemic.
Colorado Continues Sports Betting Growth
Yet again, the Colorado Division of gaming reports continued to increase in sports betting activity in the Centennial State. Local bettors wagered heavily to start the New Year.
Colorado saw $326,903,462.06 wagered on sports in January. This is an 87.1% increase from the $284.6 million wagered in December.
The growth didn’t just stop there, as sportsbooks raked in $23,144,535.05 in sports betting revenue, with the state seeing $1,195,774.15 in taxes. This is more than double the $531,489 collected in December.
Online and mobile betting dominated, seeing 97% of all wagers coming from mobile sports betting apps. $319,354,103.29 came from online and mobile while $7,549,358.77 was wagered at retail sportsbooks.
The bulk of all wagers, surprisingly, was from NBA betting. More than $88.3 million came from wagers placed on professional basketball events. Football was the second most wagered on sporting event, with nearly $75 million wagered, and college basketball betting was third with $39.8 million.
Colorado is expected to see continued growth, as the February numbers will have the Super Bowl wagers as well.
Following suit, March Madness will be available for betting in March, the NBA postseason starts in April, and that should carry sports betting fans to July when the 2021 Olympics begin.
The Colorado market will continue to be a successful one for the remainder of 2021. In addition, more sportsbooks are expected to launch in 2021 as well.
Colorado continues to be one of the bigger legal sports betting markets in the nation.
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.