Colorado Sports Betting Surged in July We should have been here since May....just sayin'
LAKEWOOD, Wednesday, August 26, 2020– With the return to play of basketball, baseball, hockey, and other national leagues, the total sports betting wagers placed have doubled since the beginning of sports betting in Colorado on May 1, 2020. The Colorado Division of Gaming’s July Sports Betting Proceeds Report clearly shows an upward trend of Coloradans embracing the new form of regulated entertainment during the pandemic as a new way to interact with their favorite sporting events.
The total amount wagered in Colorado for the third month of legalized sports betting totaled $59,183,619.73, a percentage increase of 55% over the total amount wagered in June 2020. The total taxes collected from the Net Sports Betting Proceeds were $241,866.91.
With the return to play for the major national leagues, table tennis was knocked off its top spot for the total wagers. Baseball dominated the July total wagers with a total of $9,217,342.92, after the opening day of play on July 23, 2020. Soccer held on to the second spot for the second month in a row, with $7,601,500.94 bet in July, and table tennis moved into the third spot with $5,901,201.84 total wagers.
The July figures include total wagers from new operators opening retail and internet sportsbooks, with eight retail operators and ten internet operators now open for business in Colorado.
On November 6, 2019, Colorado voters passed Proposition DD, establishing Colorado as one of many states across the country to allow people to place legal bets on sporting events since the Supreme Court ruling struck down a law that banned sports betting in most U.S. states. With the passage of Proposition DD and the legislative bill passed by the Colorado General Assembly in May 2019, the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming became the statutory authority over the regulation of the legalized sports betting in Colorado. Legalized, regulated sports betting began in Colorado on May 1, 2020.