Colorado Ready for Gambling Return, Earns $25.5 Million in First Month Gross Revenue

Colorado Ready for Gambling Return, Earns $25.5 Million in First Month Gross Revenue

Sports betting in Colorado is getting ready for a bright future as the first-month results are satisfactory. The state earned $25.5 million in gross revenue during the first month of its existence.

Sports bettors enthusiastic

According to ColoradoSharp.com, the Centennial State’s bettors have “shown their willingness to engage with the state’s newly regulated sports betting offer.” As casinos remain closed in the state, the sports betting market generated $25.5 million in gross revenue during May. The markets debuted on May 1, when sports betting activity in the US was almost non-existent in the body.

Colorado Ready for Gambling Return, Earns $25.5 Million in First Month Gross Revenue

A recent survey by ColoradoSharp suggests that about 75% of the respondents would like to return to the casinos in the state “as soon as they are open.” The survey also noted that players are “eager” for betting and all the signs suggest that the state is poised for a big boom in betting revenue as soon as full-fledged gambling returns.

According to Chris Nesi, the managing editor of ColoradoSharp.com, the first-month results of the state show that it is a leader in the US gambling sector. He said that the $25 million revenue is very impressive especially considering that sporting activity has been very low. Nesi said that it shows the strength of the Colorado gaming industry and he hopes that a more impressive figure will continue arriving as more options become available in the future.

Looking at the future

Nesi said that the COVID-19 pandemic has hit the state very hard as sporting leagues were canceled and casino activity was at an all-time low. He also said that it shows good signs for the activity in the state. The health crisis has led the state to a $100 million gap in revenue. He highlighted that Indiana earned $35 million in its first month of sports betting in October 2019 without any casino closures or a looming pandemic. This shows bright results for the state of Colorado.

The punters in the state are still hopeful about casino reopening even though there is no timeline for when that could happen. The Black Hawk and Central City casinos are eyeing June 17 reopening.  The survey also states that 75% of the survey participated aim to wear a mask when they visit a casino and 50% said that social distancing at casinos is very important when they eventually start welcoming guests.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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