Colorado sports betting shows “bright future” with $25.6m in May wagers
Colorado Division of Gaming director Dan Hartman believes the state has shown a “bright future” after players wagered $25.6m in the first full month of legalized sports betting.
Overall, sports betting generated revenue of $946,741 in Colorado for May 2020.
The report shows table tennis took the highest number of wagers, with a total of 25.7% of wagers placed, while mixed martial arts took the second highest at 6.8%.
Since Colorado went live with sports betting on May 1, six online operators have begun operating in the state.
Overall, the Colorado Limited Gaming Commission has approved a total of 25 online operator licenses and 19 retail sportsbook operator licenses.
Hartman said that although the results have been clearly affected by the COVID-19 pandemic, the state’s performance shows the potential of the market.
He commented: “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.
“The total amount wagered in May of $25.6m is an encouraging predictor of the potential for the Colorado sports betting landscape.
“It shows a bright future for the Colorado sports betting market.”
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