Colorado Wagered $25.6 Million In May Without Major Sporting Action

Colorado Wagered $25.6 Million In May Without Major Sporting Action

The Colorado sports betting market kicked off on May 1, at a time when the state was gripped by the coronavirus pandemic, and most major sporting events were canceled. However, bettors still brought in $25.6 million handles to the state in the first month of legalized sports betting.

What did the citizens bet on?

The Division of Gaming suggested that the citizens wagered about $25.6 million during the month on a variety of competitive sports. However, ping pong became their top sporting choice. Table tennis brought in a $6.6 billion sports betting handle. Other popular events were MMA fights, baseball, golf, and soccer. Overall, the state collected about $95,000 in taxes from gaming-related activities in May.

Colorado Wagered $25.6 Million In May Without Major Sporting Action

The wagers were placed using sports betting apps as all casinos remained closed due to the stay-at-home orders by the authorities. The director of the Division of Gaming, Dan Hartman, said that the Colorado industry has found a strong footing. He noted,

“The COVID-19 pandemic, the closures of Colorado casinos and cessation of professional sporting events were challenges the Division of Gaming could not anticipate when initially planning for the launch of legalized sports betting in Colorado.”

He said that the wager amount bis encouraging that the Colorado sports betting landscape will take off. It also shows that the state has a bright future in sports betting.

How do the sports betting market pan out?

The state currently has 20 sports betting apps operating in the region. When the state’s casinos reopen, several retail sportsbooks will also be debuting. This will include the Golden Mardi Gras Casino in Black Hawk and the Cripple Creek-based Wildwood Casino.

Barstool, BetAmerica, DraftKings, BetFred, BetMGM, BetRivers, and FanDuel are some of the sportsbooks that will be competing against each other in the tightly packed Colorado sports betting market.

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.