The first year of Colorado legalized sports gambling is in the books with some eye-popping returns.<\/p>\n
Coloradans wagered more than $2.3 billion on sports between May 1, 2020, and April 30, 2021, according to an unaudited report from the states department of revenue.<\/p>\n
Colorados net sports betting proceeds (total bets placed minus all payouts\/taxes) reached $65,962,159. In November 2019, voters approved a 10% tax on those proceeds to help fund the states water conservation efforts meaning roughly $6.5 million has been allocated thus far. However, Colorado is not expected to distribute those water funds until 2022.<\/p>\n
The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado, said Dan Hartman, the states division of gaming director, in a news release. Looking back on a year ago, I dont believe any of us expected to be where we are with our numbers and our operations. Colorado is setting the benchmark for what a healthy, regulated legalized sports betting market can look like in the United States, and we will continue to be known for our regulatory leadership.<\/p>\n
A breakdown for how Colorado sports gamblers placed their bets since last May<\/p>\n
Basketball ($435M)<\/p>\n
Football Pro American ($383M)<\/p>\n
NCAA basketball ($193M)<\/p>\n
Baseball ($105M)<\/p>\n
Table tennis ($91M)<\/p>\n
Hockey Ice ($63M)<\/p>\n
Soccer ($61M)<\/p>\n
NCAA Football ($61M)<\/p>\n
Tennis ($44M)<\/p>\n
Golf ($35M)<\/p>\n
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Here is the original post: <\/p>\n
Colorado wagers over $2.3 billion in first year of legalized sports gambling - The Denver Post<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The first year of Colorado legalized sports gambling is in the books with some eye-popping returns. Coloradans wagered more than $2.3 billion on sports between May 1, 2020, and April 30, 2021, according to an unaudited report from the states department of revenue Continue reading