COLORADO TAKES IN WAGERS OF $2.3BN IN FIRST YEAR OF SPORTS BETTING
Colorado’s regulated sports betting market generated over $2.3bn in wagers in its first year of operation.
Unaudited figures for the first year of the new legalized sports betting industry show that total wagers between 1 May 2020 and 30 April 2021 reached $2.3bn, including wagers of $245.3m in April.
Gross gaming revenue for the year totalled $148.1m, with licensed operators collecting net sports betting proceeds of $66.0m.
“Launching the program in the midst of uncertainty, the Division of Gaming credits the success of the first year to the pragmatic and thoughtful enabling legislation, the partnerships established with industry stakeholders, the open competitive market created through the rules and regulations, and the commitment of the division’s staff and partners to get it right for Colorado,” said Colorado Department of Revenue executive director Mark Ferrandino.
COLORADO SPORTS BETTING: FY 2021 (US$)
|April 2021 (unaudited)||245,278,924||18,307,779||15,110,049|
During the year, the best performing month for operators was January 2021 with wagers of $326.9m , followed by March 2021’s $301.0m and December 2020’s $284.6m.
By the end of the first year of operation, Colorado’s regulated market comprised of 20 online sports betting operators and 16 retail operators.
“The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado,” said Division of Gaming director Dan Hartman. “Looking back on a year ago, I don’t believe any of us expected to be where we are with our numbers and our operations.
“Colorado is setting the benchmark for what a healthy, regulated legalized sports betting market can look like in the United States, and we will continue to be known for our regulatory leadership.”
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