Colorado’s wagers on sports betting continues to see an upward trend, although this time the growth is coming in at a steadier pace. The Department of Revenue for Colorado has reported a total of $210 million for the month of October on wagers for sports betting in the state, a slight increase from the previous $207m from September.
We saw some massive leaps since sports betting has gone in effect in May, mainly going from $128m in August to $207m in September. With most pro-sports already available for and the NFL underway for the past 6 months, we may not see those kinds of massive jumps in wagers placed going forward.
To very little surprise, pro football leads the pack, garnering in 32% of the wagers for the state at $67m. Post-season baseball followed up in second at $23m, a much lower number than baseball had seen from the prior month ($47m) and NCAA football close behind in 3rd at a total of $16m.
The monthly breakdown by sport:
Table Tennis continues to be a popular option for betting in Colorado, as it remains a top 5 sport for total wagers once again. By far a unique situation for the sports betting landscape, but with it being one of the very first options to bet on once proposition DD went into effect May 1st as much of the world was locked down, it appears that a loyal base of table tennis bettors has remained in place here in Colorado.
Future Wagers for Colorado
It will be a couple more weeks until the Department of Revenue releases their November numbers for sports betting, but another expected steady increase looks to be the outlook. The NFL will without a doubt continue to be the kingpin of all wagers placed in Colorado, and with NCAA basketball and Pro Basketball looking to get going in the month of December we can fully expect them to be among the popular sports for wagers in the next upcoming months.
Until live events are cleared for the popular pro and college sports along with in person sportsbooks and indoor dining at sports bars, we should assume steady growth at the mobile betting level here in Colorado. Once Covid-19 restrictions start to ease or even lift, we expect a healthy growth of sports betting at the retail level adding to the rapidly growing new industry in Colorado.