Colorado sportsbooks report $229.8m in wagers

By Sehaj Dhillon

Colorado's online and retail sportsbook took in a combined $229.8m in wagers for June, a 7.7% decrease from May’s total of $249m.  

Daily wagers reached $7.7m every day in June, whereas in May bettors placed $8m in wagers per day.  

However, Colorado experienced a year-on-year increase as wagers in June were up from the $38.1m reported in June 2020.  

Jessica Welman, PlayColorado.com Analyst, said: “Tennis and golf don’t generate the same kind of interest as major team sports, obviously, but the higher win percentages help sportsbooks offset the offseason dip in betting volume. 

“With the Olympics here, and major golf and tennis tournaments dotting the July calendar, Colorado’s sportsbooks will get a bit of a boost even if bettors engage less.” 

Although, despite the decline in wagering, gross gaming revenue in Colorado increased by 30.2% to $19.7m in June; up from May’s GGR of $15.2m.  

The proceeds resulted in $1.2m in tax revenue, which is the second-highest amount of tax raised in the state.  

PlayColorado.com Analyst, Ian St. Clair, added: “Overall, Colorado continues to weather the summer months relatively well. 

“June’s revenue boost was not only good news for sportsbooks, but for the state. That is important when the tax receipts from sports betting have been somewhat disappointing overall.” 

Pro basketball produced $74.9m in bets during June, which was down from $86.9m in May; however, this was still the sixth consecutive month that basketball has generated the majority of bets in Colorado.  

Baseball generated $54.6m, hockey made $10.7m, while football (soccer) and tennis made just over $12m each.  

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