It has been one year since sports gambling is legal in the state of Colorado. Everyone expected that the numbers in wagers will be eye-popping, and they really are. The numbers are thriving in Colorado when it comes to sports wagers in the past year. Keep on reading to find out what is behind these numbers!
You may know, that all states in the US have their own legislation when it comes to gambling. They can make their own rules, based on the needs of their residents and their overall conceptions. This is why many states have a long history with sports wagers, but some of them do not. For example, they were more strict about it in Colorado: it was not an easy ride for the Centennial State. But in 2020 they finally legalized sports betting! Last year, on May 1st it has gone live, so wagers could finally place their bets within state limits. And so they did! If we consider the wagers placed in one year, we can say that the whole legalization was a success. Scroll down for the details on sports wagers in Colorado!
Sports betting in Colorado
How does sports betting look like in the Centennial State today? As mentioned above, as of May 1st2020 sports betting is legal. But what does that mean? Legalsportseport.com says: “There are a variety of legal sportsbook sites and apps where Coloradans can bet on sports already. The competitive market is creating explosive growth and a wealth of choices for bettors in the state. There are already more than a dozen online betting sites and apps in Colorado, and more are on the way. (…) Some are run by large companies with a presence in multiple states, while others are tied more to a local casino and exist only in Colorado.”
There is, for example, Bet365 that you can count on if you are a resident and want to make a sports bet. (There are several online sportsbook sites in the US, but not all of them can work in every state, because of the different legislations.) And what about applications? “Apps are available throughout the state for betting on sports in Colorado. That means you can bet directly from your smartphone or tablet as long as you are physically located within Colorado. You do not need to be a state resident to bet on CO sportsbook apps.” So, it is easier than ever to make some extra via sports wagers in Colorado! And that is something that shows in the numbers.
Shocking numbers in Colorado sports wagers
So, it has been one year since sports betting is legal in Centennial State. And this year just brought some eye-popping results in wagers! In 12 months Coloradans wagered over 2.3 billion dollars! The state’s department of revenue announced the numbers on their records. The state’s net sports betting proceeds reached a huge amount: 65,962,159 dollars! It was also a good thing for the state since voters approved a 10% tax on these proceeds. Dan Hartman, the director of the state’s division on gaming said: “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.” So they can be pretty proud of their results!
Breaking down the numbers
It is obvious, that the largest draws for Colorado sports wagers were in connection with NBA, NFL, and NCAA. Gamers wagered 435 million only on basketball in the last year! The next most popular sport of bettors is pro-American football, where they wagered 383 million dollars! They also like to wager on baseball – they spent 105 million dollars on it! So, if you would like to take part in this frenzy too, you can check out online sportsbooks in the US! If you are not sure what size you can use in Colorado, do some research on online gambling news sites in the US. But there is one hint from us: Bet365 is already there to serve your gaming needs!