Record Sports Betting Handle in January For Colorado

There was a new record in the sports betting handle during January for operators in Colorado. Over $1.5 billion was wagered in this US state since the launch of regulated sports betting market in May 2020.

The gross gaming revenue for the first month of 2021 was $23.1 million. This is 25.5% more from the previous record of $18.4 million from November 2020. It is also 34.3% more than December’s $17.2 million.

The Figures Breakdown

Online sports betting contributed with $22.7 million to January’s revenue, while retail and land-based sports wagering made $481,276.

Colorado players spend $326.9 million in sports betting during January. This is a boost of 14.9% on the current record of $284.6 million that was reported in December.

During January, basketball was the most popular sport for bettors. It amounted to $88.4 million in wagers.

Football was close behind with $75 million in bets. This was aided by the NFL’s play-off and Super Bowl games.

Combination betting and parlay had $53.3 million in wagers, and college basketball contributed with $39.9 million in bets.

In January, players won $303.8 million in sports betting. Operators paid $1.2 million in sports wagering taxes.

Since the Colorado market opened in May 2020, sports betting revenue totaled $98.9 million.

Sportsbooks Launch

The rollout of numerous sportsbooks in Colorado was a very gradual process.

In November, mobile sports betting platform by IGT/Maverick Gaming was launched in the state.

The PlaySports platform will power the three casinos in Colorado and will serve as the basis for interactive sports betting.

IGT will provide its proven PlaySports turnkey solution including -friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z’s Casino in Central City and Z Casino in Black Hawk, Colorado.

Before this, in September, Betfred’s sportsbook went live in Colorado…

…that also comes with special offers available in the state, with new s in Colorado acquiring a risk-free bet up to $500.

Source:

“Colorado sports betting reaches new heights with record January”, igbnorthamerica.com, February 26, 2021.