June was a hot month in Colorado among sports bettors. The proof is in the pudding.

The state’s sports bettors laid out more wagering cash in June to the tune of more than $38.1 million. The Colorado Department of Revenue’s Division of Gaming reported the take for state-licensed online and land-based sports betting operators. It was a significant upswing over May that took in $25.6 million.

Actually, this was the first month for The Centennial State’s legal betting market. May saw the action of the six active betting licensees. Of note, they are only online. June had only a single retail sportsbook.

What lies ahead…

The June stats added a seventh licensees reported so all combined, betting revenue was $2.17 million. The state gets to keep only $217k but at least it is more than twice the $96,537.55 the state earned in the previous month.

The slow or nonexistent resumption of major sports activity during the pandemic has taken its toll. Fortunately, there was table as the most-wagered sport, taking in $9.15 million. Interestingly, ping pong had a 24% share of the total handle of $10.5 million.

Other sports played their part like soccer at $4.14 million, golf at $3.44 million, mixed martial arts at $2.16 million, tennis at $1.34 million and even overseas baseball with $1.24 million. To add to the pie, parlay wagers added $4.67 million of their own.

What is ahead? July is expected to show another surge what with Major League Baseball back on the field. Then in August, we have the National Basketball Association and the National Hockey League playoffs if all goes well.

William Hill (via the rejigged Caesars Entertainment’s two local casinos) will be in the action along with Australia’s PlayUp.

Source: https://calvinayre.com/2020/07/28/business/colorado-sports-bettors-singing-ping-pong-praises/

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