The Colorado sports betting market continues to show why expectations are a mile high.
The Colorado Division of Gaming released the June sports betting handle on Tuesday.
Keep in mind, this is with six CO sports betting apps and one retail sportsbook open for the month. And it’s without major US sports, thanks to the COVID-19 pandemic.
Despite all of that, the June sports betting handle in Colorado was $38.1 million.
The handle generated $217,023.40 in taxes for the state.
As Dan Hartman, director for the Division of Gaming, said:
“June totals show a positive trend moving forward with new operators and new retail spaces opening up. We can’t wait to see what the results will be from future events, sports, and operators.”
Here’s a look at the total betting breakdown from June:
|Wagers by sport||Wagers total||Payments to players total||Gross gaming revenue (GGR)|
When it comes to the “other” category, the Division of Gaming notes that is all the other sports that don’t make the top ten, so that the column adds up to the total amount wagered. The gaming division adds that for June, it included rugby, ice hockey, snooker, NCAA future bets, and other offerings from the Colorado sports betting catalog that were less than the $94,436 that football made.
The other really interesting figure to look at is the free bets from the various sportsbooks.
In May, they gave out $1.5 million and in June $1.2 million. That’s a total of $2.7 million so far, and that means 4.8% of all bets were promotional wagers.
Colorado (still) loves table tennis
For the second straight month, table tennis was the favorite for Colorado sports bettors.
The niche sport brought in a total of $9.1 million.
That was followed by:
- Soccer $4.1 million
- Golf $3.4 million
- MMA $2.2 million
- Tennis $1.3 million
- Baseball $1.2 million
Both darts and hockey were in the top 10 in May but failed to get there in June.
Now that the Colorado Rockies have returned and fans in Colorado are experiencing MLB betting for the first time, and the NBA and NHL are mere days away from their respective returns, the handle over the coming months will only increase.
Not to mention more apps announce their launch or plans to enter the Colorado market seemingly every day. As it stands now, there are 10 sports betting apps and five retail sportsbooks live in the state.
It’s no wonder the expectations for the two-month old sports betting market remain a mile high.
This is a developing story, so be sure to check here at PlayColorado for updates.