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Colorado’s sports betting revenue rises to $2.2m in June


The Colorado Department of Revenue has reported a month-on-month rise in sports wagering revenue in June, while player spending on betting also increased by 48.8%.

Revenue for both retail and online sports wagering – reported together due to “confidentiality reasons” – amounted to $2.2m, up by 129.2% from $946,741 in May, the first full month of legal sports betting in Colorado.

Colorado benefitted from the launch of some retail sports betting in June, with the previous month having only seen revenue generated via online platforms as bricks and mortar venues were shuttered due  to the novel coronavirus (Covid-19) pandemic.

Players wagered a total of $38.1m last month, up from $25.6m during the first month of legal betting in Colorado, winning $34.7m in the process.

In terms of what consumers were betting on, table tennis was the most popular choice among players, with some $9.2m staked, representing 24.0% of all bets placed in June.

Soccer followed with handle of $4.1m, then golf on $3.4m, mixed martial arts with $2.2m and tennis on $1.3m. However, betting on traditionally popular US sports such as baseball and basketball is expected to increase in from july, as the National Basketball Association and Major League Baseball near their returns.

Operators paid a total of $217,023 in taxes during June, compared to $96,537 in the previous month.

June also saw a number of new operators launch or declare their intention to go live in Colorado, which could also drive further growth in the state.

Betting exchange operator Smarkets rolled out its SBK mobile sportsbook app in Colorado via a partnership with casino operator Full House Resorts – marking its entrance into the US market.

Betfred extended a partnership with Scientific Games to launch digital and retail sports betting services in Colorado, while Betsson agreed a deal with Colorado’s Dostal Alley Casino to launch online sports wagering in the state, in a venture that will also mark the operator’s entrance into the US market.

This month has also seen more activity in Colorado, with Gaming Innovation Group, Amelco, and PlayUp having secured approval to launch in the state. William Hill also launched in Colorado with six kiosks at Caesars Entertainment’s Isle Casino Hotel and Lady Luck Casino in Black Hawk.