Steady Climb Continues In Rockies For Colorado Sports Betting Market

Posted on February 25, 2021

Billed from the start as one of the great experiments in early US sports betting, Colorado hit another new high in January.

Mile High bettors wagered $326.9 million, according to a Colorado Division of Gaming report released Thursday. It’s the ninth consecutive month CO sports betting operators took record handle.

Gross sports betting revenue also set a new mark, reaching $23.1 million. The state collected $1.2 million in taxes, topping December’s $531,489.

Online CO sports betting still king

More than $319 million, or 97%, was bet online in Colorado. The market launched as primarily a mobile one, with retail wagering available only in three remote towns in the Rocky Mountains.

That online handle helped generate $22.7 million in gross gaming revenue in the month.

Bets at retail sportsbooks did grow from $4.1 million in December to $7.5 million last month.

Colorado still loves table tennis

Coloradans bet $11.8 million on table tennis, as the sport remains hot long after the return of traditional sports after the COVID-19 shutdowns.

Table tennis trailed basketball and the NFL, and surpassed hockey despite the Colorado Avalanche being among the favorites to win the Stanley Cup. Parlays brought in $53.3 million in bets.

Top 5 sports by handle:

  • NBA: $88.3 million
  • NFL: $75 million
  • NCAA basketball: $39.9 million
  • Table Tennis: $11.8 million
  • Hockey: $9.6 million

Soccer topped $6 million in wagers, while NCAA football and MMA finished with more than $3 million bet on each. Tennis and golf finished with $2.9 million and $1.7 million, respectively.

Colorado sports betting builds on strong 2020 start

Following its May 2020 launch, Colorado reported nearly $1.2 billion in bets in 2020. December was the year’s largest month with $284.5 million in wagers.

Colorado will likely finish January just outside of the top 5 in state handle. It trails New Jersey, Nevada, Pennsylvania and Indiana. The state will more than likely finish behind Illinois when it reports. Indiana finished January with $348 million wagered.

With a strong start to 2021, Colorado sports betting could be on pace to shatter its first-year totals.

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Pat Evans

Pat Evans is a Las Vegas-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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