Sports betting handle in Colorado leaps 55% during July
Baseball and soccer the most bet sports as online accounts for an overwhelming 99% of all wagers
Colorado recorded sports wagering handle of $59.1m in July, a 55% increase on the prior month’s total of $38.1m, according to the latest data from the Colorado Division of Gaming.
Total revenue came in at $5.1m, resulting in net betting proceeds of $2.4m – up from $2.2m in June – and taxes of $241,866. Total win percentage was 8.78%.
During the month there were eight retail and 10 online sportsbooks open for business in the Centennial State, yet the regulator doesn’t break down sports betting handle, revenue or net betting proceeds for each licensee.
Of the $59.1m in handle, a whopping 99% ($58.6m) of all bets were placed through digital channels due primarily to most brick-and-mortar sportsbooks being closed for much of the month. Retail generated just $582,814 in handle.
As for what bettors gambled on, baseball was the most popular with $9.2m wagered, accounting for 15.6% of all action.
This was followed by soccer at 12.8% ($7.6m), table tennis at 8.6% ($5.1m), golf at 8.2% ($4.8m), and basketball with 5.6% ($3.3m). MMA, tennis, motorsports, ice hockey, boxing, and ‘other’ filled the minor placings.
The regulator revealed that parlays/combinations accounted for 14.6%, or $8.6m, of the total amount bet in July.
Since Colorado went live on May 1 the market has generated handle of $123m and is expected to increase significantly in August with the return of most major US sports.
