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Like many other states that have legalized sports betting since the repeal of PASPA, Colorado continues to see the popularity of sports betting rise month by month. The $210,719,821 handle number for October marks a 1.48 percentage rise from the previous month and solidifies a clear upward trajectory.
This being only the sixth time that Colorado has posted their sports betting handle means that legal sports betting in CO haven’t even reached the year-long marker yet. This gives a lot of breathing room for market watchers who are eager to get their crystal balls out and the reality is that the numbers are likely to continue to rise for the foreseeable future as more and more residents of the Centennial State realize that they no longer have to make the journey to Nevada to place legal sportsbooks.
However, this month’s number, while being an increase, factors out into a less than the stellar rise in numbers compared to the percentage change from previous months. This could be merely a signal that sports bettors were distracted by the upcoming November elections and not so much a loss of interest in sports betting in general.
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If the last few years have taught us anything about what sports betting in the modern world looks like look no further than your front pocket. Mobile sportsbooks are by far the largest share when it comes to how people chose to place their bets. This September in Colorado $207,655,942 was put on the line in the form of wagers with $203,882,793 of that being placed exclusively online or on mobile devices. The figure constitutes a whooping 98% of the total wagers placed that month in the state!
This is a sign of the times and a clear indicator that states who choose to leave out mobile and online betting when crafting their legislation in lieu of traditional cage placed bets will be left in the dust when it comes to taxable revenue.
This will have major implications on those states that choose to not make room for mobile bettors. It is likely that bettors who’re left with no viable mobile betting option will turn to elicit and illegal forms or of betting such as offshore betting and betting illegally in legal states via a virtual private network.
In September Coloradans showed they can really get excited about betting on Major League Baseball with 22.7% of all wagers placed in September being on MLB. The latest numbers from October show that Football is the most bets on sport with 32.2% of all bets being made for that sport.
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