Echoing the August pattern in many other US states, Colorado reported a significant increase in sports wagering numbers generating $128.6 million following a jam-packed schedule of NBA and NHL playoff events along with a full slate of Major League Baseball games.
Many believed the success of the state’s burgeoning sports betting market should be a bit downplayed since it was only officially launched in May 2020 during the global health pandemic. However, it was still impressive on many fronts considering it was still well beyond any market forecast.
Most important, August’s wagers also significantly benefited the state of Colorado with $189,462 being produced in new state taxes. In comparison, over the state’s first three months of legalized betting, CO sportsbooks have generated $122.9 million in bets.
Not surprising, NBA basketball was the book’s primary source of wagering, contributing $38 million. A figure that was enhanced by the hometown Denver Nuggets games, which will also be a boost into September. Major League Baseball provided $22.8M with NHL hockey action adding $13.6 into the mix.
Parlays and combination bets, most of which were likely wagered on professional sports, made up 17.6% of the total wagering pie with the rest split by table tennis, golf, soccer, tennis, mixed martial arts, and a variety of other sports.
On the location split, nearly 70% of the gambling total was generated by casinos in Black Hawk, while Cripple Creek gaming halls generated 21% and casinos in Central City contributed the rest.
DraftKings opens its doors for a brand-new sportsbook at the Mardi Gras Casino in Black Hawk, Colorado this weekend following an official confirmation that it has secured a partnership with Major League Baseball’s Colorado Rockies.
The onsite retail sportsbook in the Twin River casino property will feature more than 40 televisions, large video boards dedicated to displaying odds, many self-service betting kiosks, and a full-service American sports bar plus restaurant.
George Papanier, president, and CEO of Twin River Worldwide Holdings. commented:
The space has over 40 large TVs and multiple odds boards, a large full-service bar with 22 seats, a VIP area, and a great new menu featuring American pub-style fare with a Colorado twist, including our famous short rib stacker with house-made chips, an artisan BLT with a poached egg, and carnitas tacos. There is nothing like it in Black Hawk and we are excited to become Colorado’s new home for all sports.
In support of the team, DraftKings will also receive a license to utilize Rockies trademarks and logos, with the pair also set to collaborate to develop a digital content series featuring Rockies’ player appearances, along with podcasts, live videos, and more.
Expect another headline-making total this month. Sports betting surged immediately in early September with the beginning of the NFL season and continuation of both the NHL Stanley Cup and NBA playoffs. Between $13 million and $14 million bet in the first four days of wagering on professional football, Dan Hartman, the division’s director, said on Thursday.
Also, geographically Colorado is somewhat of an oasis apart from many of the current new legalized states for sports wagering. That combined with the new excitement they bring to sports bettors are advantages “the Centennial State” should enjoy for several coming months.
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Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.
Email: [email protected]
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