Unlike the oxygen, the Colorado sports betting numbers aren’t impacted by the altitude.
After three months, the handle continues to show why expectations and hope remain a mile high.
The Colorado Division of Gaming released the sports betting handle for July on Wednesday, and it’s up 55% from June.
For the month of July, Colorado brought in $59.18 million. The month of June produced $38.1 million.
July’s handle resulted in $2.4 million in net betting proceeds, up 11.4% from $2.2 million in June. That leads to $241,867 in state taxes for July.
Colorado’s July handle is the fifth-largest among legal US jurisdictions, closely trailing No. 4 Indiana, which generated $70.9 million in July.
As Dan Hartman, director for the Division of Gaming, said:
“The numbers show that Colorado sports betting fans continue embracing this new form of entertainment. Along with the offerings fans have grown accustomed to, the return of major sports has shown what the market is capable of. We are excited to see what the full month of major pro sports brings in August.”
|Wagers by sport||Wagers total||Online wagers||Retail wagers||Payments to players total||Gross gaming revenue (GGR)|
Return of US sports jolts Colorado sports betting
One of the huge reasons for the increase in July betting numbers is the return of major sports in the US. For July, it was the Colorado Rockies and MLB. Opening Day for the league was on July 23; for the Rockies, it was July 24.
The Denver Nuggets and the NBA played just a few days in July. The Colorado Avalanche didn’t return to the ice until Aug. 2. So the August numbers will show how much NBA and NHL betting impacted the market.
Colorado fans were clearly eager to partake in some MLB betting.
Baseball was the No. 1 sport wagered on in July at $9.2 million, followed by:
- Soccer at $7.2 million
- Table tennis at $5.9 million
- Golf at $4.8 million
- Basketball at $3.3 million
Even the return of major US sports won’t contain Colorado’s apparent affinity for table tennis.
Table tennis had generated $15.7 million in bets in the first two months, by far the favorite sport among bettors in the state.
For the month of July, there were 10 Colorado betting apps live and eight retail sportsbooks. As of now, there are 11 with the launch of ELITE in early August.
Only getting started
Yet even with the launch of the first retail sportsbooks in the state, online sports betting accounted for $58.6 million, or 99%, of the state’s July handle.
As the Denver Broncos season gets closer, that number will likely jump in the days and weeks ahead.
Based on the handle for July, you can see why.