The monthly summary is in for the month of September in Colorado, sports betting has seen yet another sizable growth from the prior month, an increase in 61% from August to September. Colorado now has seen money on sports betting wages top $200 million as Colorado’s Department of Revenue reports on a total of $207,655,942 in September.
In the Top 5
This leaves Colorado in the top 5 of the current 18 states that have already legally passed sports betting in the United States (not including passed bills from N. Carolina, Tennessee, Virginia, Washington).
Top five U.S. states by sports betting handle in September 2020:
1. New Jersey: $748,5 million
2. Nevada: $575 mil
3. Pennsylvania: $462.7 mil
4. Colorado: $207.6 mil
5. Indiana: $207.4 mil
— Ben Fawkes (@BFawkes22) October 28, 2020
The month of September was dominated by pro baseball, football, and basketball taking in a combined share of $123,495,165 of the $207 million. The Department of Revenue breaks down the wagers place per sport in Colorado.
Retail Is Growing
While online sports betting continues to dominate the majority of wagers in Colorado, there was a noticeable increase in the in-person retail wagers places. Colorado saw retail wagers go from $1.9 million in August to $3.7 million in September. There are currently 11 registered retail operators many with an online platform in the state of Colorado. Colorado is being seen as having great potential growth in the sports betting industry. According to Chris Nesi of Colorado Sharp, there could be as many as 9 more online/retail that might join as legitimist operators before years end.
Growth Could Reach $1 Billion by Years End.
Since the introduction of proposition of DD in May, Colorado has registered just shy of $500 million in wagers on sports, and with the consistent growth of online wagers and emergence of retail betting in Cripple Creek, Blackhawk and Central City it’s not irrational to think that the state could see total wagers of $1 billion in 2020 (only 8 months).