The state reported over a 55% monthly increase in July

Colorado sports betting handle boosted by MLB, NBA's return

Baseball, which officially returned on July 23, led the way in terms of wagering volume at $9,217,342, which represented 15.6% of total dollars in play.
2020-08-27
United States
Reading time 1:19 min
Colorado's July handle was the fifth largest among legal US jurisdictions, with 99% coming from online sportsbooks. The state reported more than $2.4 million in net sports betting proceeds, up 11.4% from June. Baseball accounted for the most betting on a single sport attracting $9.2 million in bets,15.6% of all bets.

The Colorado Department of Revenue reported on Wednesday that more than $59 million was wagered in July, over a 55% increase from June and more than double May’s number. After payouts to winners, operators reported more than $2.4 million in net sports betting proceeds — up 11.4% from $2.2 million in June —and almost $242,000 in taxes due to the state.

Limited to online betting on fringe sports through June, Colorado's sportsbooks had combined to take in $63.8 million in wagers, yielding $3.1 million in net proceeds, during the industry's first two months.

Colorado's July handle was the fifth largest among legal U.S. jurisdictions, closely trailing No. 4 Indiana, which generated $70.9 million in July, according to PlayColorado. Even with the opening of Colorado's first retail sportsbooks, online sports betting accounted for $58.6 million, or 99%, of the state's July handle. 

Table tennis had generated $15.7 million in bets in the first two months, by far the favorite sport among bettors in the state. That changed in July when baseball accounted for the most betting on a single sport attracting $9.2 million in bets (15.6% of all bets), and soccer took in another $7.6 million. With just a few days of NBA games, basketball attracted $3.2 million in bets, while table tennis only generated $5.1 million in wagers.

Through July, there were 10 online operators and seven retail, or in-person, operators licensed in Colorado. Circa Sports, DraftKings’ retail sportsbook, BetWildwood, Ameristar’s retail sportsbook, and William Hill’s retail sportsbook all opened in July. Many more have been approved but haven’t yet begun operations. Only six online operators took bets in May.

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