Online sports betting in Colorado experienced a steep increase in July with the return of sports. Play resumed in some of the major sports leagues all around the globe in July, allowing Colorado bettors to explore serious sports action.
The rise in Online Sports Betting
According to a report released by the CDR (Colorado Department of Revenue), online sports betting saw a significant rise, mainly because of the return of NBA and MLB games as well as international soccer contests.
As per statistics, over $59 million were wagered last month, which is an astounding 55% increase compared to June figures.
What dominated the gaming market in Colorado?
In July, the gaming market in Colorado was dominated by online sports betting. Also, after the rollout of online betting in Colorado, online sportsbooks like FanDuel Sportsbook, DraftKings Sportsbook, FOX Bet, and BetRivers became very popular in the initial months.
Due to the fierce competition broiling between these online sportsbooks, bettors were in an advantageous position to utilize a variety of free bets, bonus payouts, and free bets offered by the sportsbooks.
The COVID-19 Restrictions
Due to the COVID-19 restrictions which still apply for physical stores and retail wagering, the mobile and online wagering is proving to be advantageous due to the convenience it provides to bettors.
This is highlighted by the fact that online GGR (Gross Gaming Revenue) was almost 96.81% of the total GGR in Colorado.
Legal Sports Betting
The increase in online sports betting is fueled by the official rollout of legal sports betting in the state and such legalization facilitated betting on mainstream sports by Coloradans.
On July 23, baseball returned officially and became the leader in terms of the amount wagered, followed by soccer that maintained the second position in terms of most wagered sports, while table tennis moved into the third position. The same upward trend in online sports betting is expected in the coming months as well due to the spike in sports activities.