The question that defines Colorado sports betting got yet another resounding answer.
Heck, you could say sports betting in the U.S. for that matter.
Is table tennis betting here to stay?
The niche sport remains one of the most popular sports for users here to bet on. Since the launch of sports betting in May and the return of major U.S. sports, Colorado still can’t quit table tennis.
In somewhat of a surprise, NBA betting is the king of January, followed by the NFL.
Yet not only was table tennis in the top 10, it was again in the top five.
Above the NHL and Stanley Cup-favorite Colorado Avalanche.
Colorado always does it in a unique way.
Another record month for Colorado sports betting
All of that led to yet another record month for sports betting revenue.
Colorado’s online and retail sportsbooks tallied their ninth-straight month of record sports betting with $326.9 million in January, according to data released on Thursday by the Colorado Division of Gaming. The previous record was the $284.55 million in December.
In the battle of the top states, Colorado will likely finish sixth for the month. Colorado is also the sixth state in U.S. history to crack $300 million in a single month.
The Centennial State will likely trail New Jersey, Nevada, Pennsylvania, Illinois, and Indiana.
What’s interesting about Indiana is that when it releases its revenue numbers, that’s turning into a pretty good harbinger of what’s to come in Colorado.
Bettors in the Hoosier State wagered $348 million in January, setting a record there for the fifth month in a row.
Colorado didn’t quite reach that number, but came pretty close.
As for the handle breakdown, gross gaming revenue (GGR) did get a state record in January, bringing in $22.7 million. That was up from the $17.2 million in December.
Meanwhile, sports betting proceeds climbed to $11.7 million, up significantly from December’s $5.7 million.
The state also generated $1.2 million in state taxes for the month. That is an increase of 125% from the $531,489 collected in December.
Top sports wagered on
As for the sports that users put their money on, as noted at the top, the NBA was the top sport at $88 million.
That was followed by the the NFL and NCAA basketball.
And, of course, table tennis.
Here are the top five wagered sports for January:
- NBA $88.3 million
- NFL $74.9 million
- NCAA basketball $39.9 million
- Table tennis $11.8 million
- Hockey $9.6 million
In terms of the NCAA basketball number, that bodes well for great March Madness betting in the Colorado market.
That is especially true if both the University of Colorado and Colorado State University men’s basketball teams qualify for the tourney.
Yet despite all of that, the one constant when it comes to Colorado sports betting is table tennis.
Since the launch of sports betting in May, table tennis has now generated $78.3 million in bets. And there’s no sign that will change any time soon.
|Wagers by sport||Total handle||Online handle||Retail handle||Revenue (GGR)|