Steady Climb Continues In Rockies For Colorado Sports Betting Market

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Colorado sports betting

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:

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.