- Colorado sports betting revenue reports for July 2020 show an increase in betting handle and revenue.
- The bulk of the revenue game from wagers taken on baseball and soccer events.
DENVER – Colorado sports betting revenue reports have been released and they show an increase in overall betting handle as well as revenue earned from June to July.
This increase is mainly attributed to the return of sporting leagues like the NBA and MLB.
In total, Colorado reported a 55.4% increase in the betting handle which lead to a 9.1% increase in sports betting revenue in the month of July.
Colorado Revenue Report
Legal Colorado sports betting saw major gains in July thanks to the return of sports, but also because of the reopening of major land-based sportsbooks.
Per the report, the total land-based betting handle was $582,814.69.
Even with the reopening of major land-based operations, the bulk of the betting handle is from legal online sportsbooks. The report shows that a total of over $58 million was wagered online.
Colorado sports bettors betting on the MLB season contributed to the bulk of the betting handle as it was the most bet on sport in July. Baseball betting took in $120,774.69 in the retail betting handle and over $9 million in the online handle.
Baseball was followed by soccer, table tennis, golf, and basketball as the most bet on sports in July.
Top 10 Sports By Total Wagers
|Baseball:||Retail – $120,774.69||Online – $9,096,568.2||Total – 4 $9,217,342.93|
|Soccer:||Retail $42,940.04||Online – $7,558,560.90||Total – $7,601,500.94|
|Table Tennis:||Retail – $9,769.61||Online – $5,099,432.23||Total – $5,109,201.84|
|Golf:||Retail – $9,795.00||Online – $4,820,346.41||Total – $4,830,141.41|
|Basketball:||Retail – $142,552.56||Online – $3,192,267.40||Total – $3,334,819.96|
|MMA:||Retail – $22,445.87||Online – $2,621,530.11||Total – $2,643,975.98|
|Tennis:||Retail – $6,406.92||Online – $2,079,881.19||Total – $2,086,288.11|
|Motorsports:||Retail – $948.00||Online – $460,812.24||Total – $461,760.24|
|Hockey – Ice:||Retail – $5,477.75||Online – $389,091.78||Total – $394,569.53|
|Boxing:||Retail – $1,053.00||Online – $292,094.08||Total – $293,147.08 $399.00|
|Parlays/Combinations:||Retail – $199,066.07||Online – $8,439,415.27||Total – $8,638,481.34|
|Other:||Retail – $21,585.18||Online – $14,550,805.19||Total – $14,572,390.37|
|Total:||Retail – $582,814.69||Online – $58,600,805.04||Total – $59,183,619.73|
With August having the remaining NBA season, beginning of the NBA and NHL Playoffs, as well as the continued MLB season, it is only expected for August to be an even bigger legal sports betting month than July.
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.