Colorado Sees a Jump In Online Sports Betting in July

Colorado Sees a Jump In Online Sports Betting in July

The online sports betting market of Colorado experienced a massive jump in its fortunes as sports returned after the pandemic. July witnessed the return of major sporting leagues across the world which helped in bringing better figures for the state’s sports betting industry.

Colorado bettors rejoice with the return of sports

In July, NBA and MLB games returned alongside soccer contests internationally which helped in bringing some cheer back to the Colorado markets. A recent report from the Colorado Department of Revenue suggests that players wagered over $59 million during the month, which marked a 55% increase from June figures.

Colorado Sees a Jump In Online Sports Betting in July

The gaming market of the state was dominated exclusively by online sportsbooks like DraftKings, FanDuel, FOX Bet, and BetRivers. These sportsbooks are entering a fierce competition with each other to gain the attention and betting dollars of Colorado residents. They are offering free bets, bet boosts, and bonus payouts to gain customers. Retail options are still struggling with the impacts of COVID-19.  This is the reason why almost the entirety of the state’s GGR $5,196,596 comes via online entities, accounting for $5,031,039.

Coloradans happy with sports betting offers

The ability to bet on mainstream sports is helping Coloradans participate in legal and regulated sports betting. The industry became legal on May 1 but was unable to take off because of the absence of major sporting events. Retail locations remained closed because of the coronavirus crisis while bettors had to make do with betting on niche sports like table tennis.

Baseball returned to action on July 23, bringing a total wager of $9,217,342 in the first game of Nationals vs Yankees. This was 15.6% of the total dollars bet. Soccer continued to the second-most wagered sports. Table tennis was the third most bet-upon sport. Golf, basketball, MMA, Tennis, Motorsports, Hockey and Boxing were other popular sports.

August is expected to be a good month for sports like NBA and NHL get back into action. This would be helpful in creating another good month for online sports betting in Colorado. September will come with more sporting action as NFL starts its 2020 season.

sherlock

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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