$2.32 billion staked in Colorado’s debut year of sports betting

In Colorado’s first year of regulated sports betting, players staked a total of $2.32 billion (€1.9 billion) as revenue reached $147.3 million (€120.3 million).

The US state opened its legal sports betting market in May 2020, with players across the state able to access online and retail wagering options.

In the year subsequently, a monthly record of $23.1 million (€18.9 million) revenue was recorded in January, though in the final month of its debut year, April, this figure was significantly lower, at only $17.3 million (€14.15 million).

Online wagering ed for the vast majority of all gross gaming revenue, coming in at $17.4 million (€14.23 million) compared to $186,291 (€154,000) across retail activities.

Players staked $244.4 million (€200 million) in the month, significantly down from the $236.9 million (€194 million) recorded in January.

The decline can likely be attributed to the closure of the NFL (American football) season, and the NCAA (basketball) season.

In the words of PlayColorado, “while there was a dip from March to April, it was expected”, because there was no NFL, college basketball or March Madness, which are the two sports which “drive sports betting”.

Till April 30th 2021, Colorado sportsbooks generated $6.6 million (€5.4 million) in state taxes.

Also notable, revenue from table tennis betting was atypically high in the state, with $9 million (€7.4 million) being staked in April alone.