Sports Betting Boom in Colorado

Sports betting in the US state of Colorado is thriving, and the latest evidence came with the release of figures covering September this year, which revealed an as-expected healthy level of revenue. 

According to the report from the Colorado Division of Gaming, more than $200 million had been wagered during the month of September, showing that sports betting fans in the state not only took quickly to the ability to bet on sport using their mobile devices but also showed a surprisingly diverse interest in a range of sports, including international table tennis. 

The figures show that an incredible 98% of all bets through legal sportsbooks in the state came from mobile platforms. Only $3.7 million of that total was wagered at the state’s three retail venues, which are located in casinos based in relatively remote towns. 

Sports Betting Surge

The figures show that $207 million was wagered during the month of September, representing an impressive 61% rise on that total recorded for August, showing that Colorado is playing its role in a substantial national surge in sports betting during the month of September. 

According to reports submitted across the US, there were new records for a monthly handle set in the states of Indiana, Pennsylvania, and New Jersey during the month of September. In addition, it is expected that there could be as much as $1 billion recorded in wagers from the states of Illinois and Nevada, adding up to a huge $2.5 billion handle for the US sports betting market as a whole. 

Promos and Baseball

The state of Colorado doesn’t break down its returns by individual operators, but looking across the market as a whole, it seems likely that promotions and free bets played a significant role for the 11 mobile sports betting operators who have been competing in the state since the sports betting market was launched in May this year. 

Another interesting factor was the strong performance by sports bettors in Colorado during the month, with operators holding onto only 2% of sports wagers placed during the month, for a total of $4.1 million, which will generate $70,000 in tax revenue for the state. 

More surprising still was the fact that baseball eclipsed football during the month. The final month of the MLB regular season produced over $47 million through baseball bets, with a loss to the operators of $3 million. The NFL was not far behind, generating $38.6 million in bets, although the betting companies fared slightly better here, with a profit of just under $2 million for the month. 

Table Tennis Success

The other big sports betting story was the continuing success of international table tennis, which established itself as a popular betting medium among the state’s sports bettors and bookmakers during the COVID-19 lockdown earlier this year when table tennis tournaments from Russia and elsewhere provided almost the only sporting action. 

Table tennis has continued to perform well in Colorado, despite the resumption of regular professional sports in the state. In fact, wagers on the sport exceeded $5.3 million during September, which was a bigger figure than those recorded for NCAA football, golf, and soccer. The unlikely success of table tennis has also been seen in another western state, Oregon, where it continues to be among the top five sports wagered on by sports bettors.