Colorado Sportsbook Anticipates July Boost

Colorado sportsbooks saw a non-traditional sports boost for June once again, but that is only setting the stage ahead of the gradual store reopening and imminent return of major sports across North America, PlayColorado notes.

As the first month of operation of the Centennial State “topped the debut month of the largest markets in the country,” the second electronic sportsbook produced $38.1 m in wagers, up 49 percent from $25.6 m in May bets.

This resulted in payouts of $34.7 million, a 50 percent rise from $23.1 million in May, with the month also producing operator income of $2.2 million (May: $946,741) and tax revenue of $217,023.

Dustin Gouker, lead analyst for PlayColorado.com said: “Considering Colorado’s online sportsbooks launched in the middle of a pandemic that had all but shut down major sports, the first two months of sports betting have surpassed expectations.

“That quick start should have Colorado’s online sportsbooks well-prepared for a much higher level of engagement, which is already happening.”

Colorado sports bettors will also welcome the return of more conventional sports after table tennis attracted the most wagers in June at $9.1 m, ahead of the added engagement expected to be accepted with the slow resumption of retail activities.

With Major League baseball in operation, the NBA close to restarting Orlando, the NHL scheduled to launch in early August, and the upcoming NFL season, the sports betting climate could radically change in the coming weeks.

Gouker remarked:

“Colorado is home to two legitimate championship contenders in the Denver Nuggets and Colorado Avalanche, and that will almost certainly draw significant action.

“In this environment, things can change quickly. But pent-up demand, the start of the Colorado Rockies season, and the restart of basketball should push July to something more closely resembling a normal month.”

Adding: “Sportsbooks have been creative in engaging bettors, and that will help when major US sports restart. Retail sports betting sites will help, too. July and August should be exciting months for the industry.”