Colorado’s online and retail sportsbooks generated a record $491.5 million in bets and $28.6 million in revenue in October.
This is the second consecutive month with a record number, making October 2021 the most productive month since the launch of legal betting in 2000.
The state fell just short of becoming the fifth U.S. state to rake in $500 million in legal sports betting in one month. Total volume increased by 133% compared to October 2020.
Colorado online and retail sportsbooks accepted a record $491.5 million in bets for October, up 20% from the previous record $408.3 million in September. Online operators generated 98% ($483.3 million) in bets, again demonstrating the interest of gamblers in online gambling.
October offered punters five full weekends of college football, as well as a postseason of baseball and the opening of the Denver Nuggets and Colorado Avalanche seasons.
Pro football generated the most bets for the month, with revenue of $171.2m; basketball drew $63.3 million in bets and college football drew $51.2 million in bets. Baseball followed with $37.4 million, football generated $15.9 million in bets, tennis accounted for $14.1 million, hockey generated $13.2 million and table tennis $10.3 million.
Analysts believe the state’s gambling market is still expanding, as Ian St Clair, principal analyst for PlayColorado, explained: “Importantly, Colorado’s sports gambler base continues to expand, and those gamblers are betting more than they were last year. around this time, as they become more familiar with in-game betting at online sportsbooks, all in all, it points to a bright future for the industry.”
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