Le Lézard
Classified in: Tourism and vacations, Sports and recreation

Colorado Sportsbooks Haul $207.7 Million in Wagers in September, Surpassing Indiana, According to PlayColorado


LAS VEGAS, Oct. 23, 2020 /PRNewswire/ -- Colorado scored its biggest month of sports betting yet, as an unparalleled sports schedule that featured the first games of the NFL season, MLB, and the NBA and NHL playoffs sent the state's bettors into online and retail sportsbooks in September. Edging Indiana with a record $207.7 million in bets for the month, and with a bevy of new operators making their debut, Colorado joins a group of five states that have generated more than $200 million in a single month, according to analysts from PlayColorado.

"Colorado is nowhere near maturity as a market, and yet its gains continue to put it among the top markets in the U.S.," said Dustin Gouker, lead analyst for PlayColorado.com. "Interest in the Denver Broncos was bound to help spur interest in the NFL's first few weeks. But September still managed to outpace what we could have reasonably expected just two months ago."

September's handle, which was released Friday by the Colorado Department of Revenue's Division of Gaming, was up 61% from $128.6 million in August. September's wagers led to $4.2 million in gross gaming revenue, down 45% from $7.5 million in August.

Colorado edged Indiana to temporarily take over the No. 4 spot among U.S. legal sports betting markets. Indiana also enjoyed a record September with $207.5 million in handle. Fledgling Illinois, which leapfrogged the Centennial State with $140 million in August bets, has yet to announce its September data.

September's gains netted a loss of $3.4 million in betting proceeds, down from $1.9 million in August, a product of bad luck and heavy promotions for the state's sportsbooks. Despite the loss, $69,772 was injected into state coffers.

The return of the Denver Broncos and NFL was a key reason why betting was so brisk. With three full weekends of NFL action, football generated $38.6 million in wagers. Baseball, though, showed surprising strength by generating $47.1 million. Heavy interest in the Denver Nuggets, who weren't eliminated from the NBA playoffs until Sept. 26, led to $36.9 million being bet on basketball. Hockey chipped in $11.3 million.

"The NFL is king in every major U.S. sports betting market, so it is no surprise that Colorado bettors showed significant interest, but baseball is proving formidable," said Jessica Welman, analyst for PlayColorado.com. "Colorado is quickly developing into a well-rounded market with significant betting interest in a wide array of sports, including table tennis, which remains shockingly popular."

Online sportsbooks have proven to be by far the overwhelming preference for Colorado's bettors. $203.9 million, or 98.2%, of all September's wagers were made online. That is essentially even with 98.5% in August. No other major legal sports betting market has seen such a high percentage of its monthly handle generated online.

Operators have clearly noticed. In September alone, Colorado welcomed the launch of four new online sportsbooks, including theScore, William Hill, Betfred, and Sportsbetting.com.

"The Colorado market will continue to sort itself out for the foreseeable future, and its growth prospects remain enormous as more and more operators enter," Welman said. "Illinois' population will make it nearly impossible for Colorado to keep pace, but catching Indiana so quickly is impressive. In fact, Colorado's race with Indiana remains among the most intriguing storylines of U.S. sports betting."

For more, visit PlayColorado.com/news.

About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

Contacts:
Zack Hall, DVA Advertising & PR, 541-389-2411, 257525@email4pr.com

SOURCE PlayColorado.com


These press releases may also interest you

at 02:00
Forbes Travel Guide ("FTG"), the global authority on genuine Five-Star service, and Sharecare, the digital health company that helps people manage all their health in one place, announced the first hotels in the world to successfully become Sharecare...

at 02:00
JOLED Inc. (headquartered in Chiyoda-ku, Tokyo, Japan; Representative Director and President: Tadashi Ishibashi), an OLED expert and manufacturer of 4K OLED by printing technology, and AERQ GmbH (headquartered in Hamburg, Germany; Managing Directors:...

at 00:12
Wednesday 02/12/2020 Lotto 6/49 estimated jackpot $11 millions22, 24, 28, 41, 47 & 49. Bonus 21. LOTTO 6/49 Guaranteed Prize53002032-01 ONTARIO 494, 7, 18, 23, 35 & 40. Bonus 24. POKER LOTTO Winning Hand: 4-D, 3-S, A-C, 7-C, 3-D. Legend: C = CLUB,J...

2 déc 2020
Up sticks to Dubai for the winter with an affordable remote working package that blends contemporary city living with innovative work spaces and exclusive access to one of Dubai's finest private beaches. The new Jumeirah Hotels & Resorts Discover...

2 déc 2020
JBT Corporation  announced that on December 2, 2020 its Board of Directors declared a quarterly cash dividend of $0.10 per share of outstanding common stock. The dividend will be payable on December 28, 2020 to stockholders of record at the close of...

2 déc 2020
BeHome247, the industry leader of end-to-end property care solutions combining smart home technology, workflow automations and vendor management into a single, intuitive platform, is excited to welcome Southern Vacation Rentals to the family! A proud...



News published on 23 october 2020 at 20:00 and distributed by: