Strong First Year of Legal Sports Betting in Colorado
![Colorado sports fans bet a total of $2.34 billion](/assets/images/news/471/colorado-sports-wagers_980x428.jpg)
Colorado sports fans bet a total of $2.34 billion in the first year of legal sports betting in the state, while the gross gaming revenue for the 12-month period was $148.1 million.
Legal sports betting began in Colorado on May 1, 2020, with fans allowed to bet both online and at retail sportsbooks. Due to coronavirus restrictions, there was a slow start to the market with retail venues closed and a number of events cancelled.
However, since major sports resumed last August, there was steady month-on-month growth in sports betting figures all the way through to January 2021, which saw punters bet $326.9 million on sports, the strongest month yet.
Betting dropped to $266.5 million in February before growing to $301 million in March. Early figures for April suggest the figure will be $245.3 million.
January was also a record month for operator revenue. There was total gross gaming revenue of $23.1 million from sports betting, while last month’s revenues are thought to be $18.3 million.
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It seems that basketball has been the most popular sport to bet on, attracting $435.2 million in bets over the year, or 20.9% of all bets placed. This was followed by football, with $383.5 million bet, or 18.4%, and then college basketball with $193.9 million bet, or 9.3%. Parlay and combination betting was also popular, with $339.4 million bet this way across the year.
The Division of Gaming has published figures showing that the year brought in $65.9 million in tax from legal sports betting. By the end of April, there were 20 online operators in Colorado and 16 retail sportsbooks.
![Dan Hartman Division of Gaming Director](/assets/images/news/dan-hartman.jpg)
The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado. Looking back on a year ago, I don’t believe any of us expected to be where we are with our numbers and our operations. Colorado is setting the benchmark for what a healthy, regulated legalized sports betting market can look like in the US, and we will continue to be known for our regulatory leadership.
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