Colorado sportsbooks again capitalized on interest in nontraditional sports to produce modest gains in June, but the uptick will likely pale in comparison to an expected July surge powered by the return of major North American sports, according to PlayColorado press release.
“Considering Colorado’s online sportsbooks launched in the middle of a pandemic that had all but shut down major sports, the first two months of sports betting have surpassed expectations,” said Dustin Gouker, lead analyst for PlayColorado.com. “That quick start should have Colorado’s online sportsbooks well-prepared for a much higher level of engagement, which is already happening.”
In Colorado’s second full month of legal online sports betting, online sportsbooks generated $38.1 million in wagers, up 49 percent from $25.6 million in bets in May, according to official reporting released last month. That resulted in $34.7 million in payouts, a 50 percent uptick from $23.1 million in May.
In all, June produced operator revenue of $2.2 million, up from $946,741 in May. That yielded $217,023 in state taxes.
With Major League Baseball in play, the NBA close to its Orlando restart, the NHL set to drop the puck this month, and the NFL season looming, the sports-betting environment should change drastically in the coming weeks.
In addition, bettors will no longer be limited to online sportsbooks. While the majority of all bets will continue to be made online, the slow opening of retail sportsbooks across the state will offer new areas of engagement.