Colorado sports wagers reach $2.34bn in first year of regulation

first_img Tags: Revenue Colorado Read the full story on iGB North America. Colorado sports wagers reach $2.34bn in first year of regulation Colorado launched its legal sports betting market on May 1, 2020, with players in the state able to wager both online and in-person at retail sportsbooks. Regions: Colorado Consumers in Colorado wagered a total of $2.34bn (£1.65bn/€1.92bn) on sports during the first year of legal wagering in the state, while gross gaming revenue in the 12-month period amounted to $148.1m. The market endured a tough start with players limited to online betting online in the first few months of regulation due to novel coronavirus (covid-19) restrictions. A lack of sports events as a result of Covid-enforced cancellations and postponements also stunted early progress. However, as major sports returned in August, the market saw consistent month-on-month growth through to January 2021, which was incidentally the month in which wagering was at its highest as players spent $326.9m on sports betting. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Finance Sports betting Subscribe to the iGaming newsletter Wagering dipped in February to $266.5m, but recovered in March to $301.0m, while early figures published by the Colorado Division of Gaming show a handle of $245.3m for April. Email Address 11th May 2021 | By Robert Fletcher Financelast_img read more