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May was a banner month for sports betting in Colorado. It was the first full month of this offering after voters narrowly leaned in favor of the activity last November.
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According to figures from the Colorado Limited Gaming Commission, bettors in the state wagered $25.6m on sports. This was slightly higher than the early figure of $25.5m that the Commission released at the start of June.
There was little to bet on outside NASCAR races and UFC matches. The end of July will bring us Major League Baseball with the NBA and NHL set to play the entire month of August.
From Compare.bet:
Colorado’s sports betting market went live on 1 May with the launch of four online sportsbooks during the coronavirus pandemic. On 1 May, DraftKings, FanDuel, BetRivers and BetMGM launched their online sportsbooks in the state. Monarch Casino Resort’s launched its BetMonarch app on 14 May, followed by Fox Bet a week later.
On the tax front, sportsbooks paid a combined $96,537.55 to the state.
Surprisingly it was Russian table tennis that saw the most action. Since that time a number of books have pulled lines on table tennis following concerns over fixed matches.
Mixed martial arts events came in second place after bettors wagered $1.7m.
Korean baseball was the third most popular sport to bet on with residents staking $1.6m on baseball events. The German Bundesliga joined a handful of other international soccer leagues the second half of the month with $1.5m was wagered on these contests.
- Colorado Betting Revenue Hits $946.741 in First Full Month of Legal Sports Betting
- theScore Obtains GLI-33 Certification for Colorado
- SBC Webinars and Digitain Present Finding Value in Untapped Markets
SBC Webinars returns on Thursday 23 July, when leading sports betting and igaming software provider Digitain presents Finding Value in Untapped Markets – the Importance of Innovation in a Competitive Landscape.
The session will see Digitain’s experts demonstrate how operators can extract maximum value from under-exploited sports, and examine the importance of having an effective research and development strategy in order to drive innovation in product development.
After the unprecedented global events of 2020 exposed bookmakers’ barren market inventories as being overly reliant on saturated traditional markets to drive wagering volumes, the webinar will ask a critical question. Are operators and system providers too regimented in their approach and too reluctant to stray from the crowd with their product strategies?
The Digitain team will also showcase its approach to R&D by detailing how the company reacted to changing consumer needs by launching its much talked about Table Football Odds Feed. The audience will learn how Digitain brought a niche sport to life for its betting partners, supported by live stream game feeds, deeper match data transfers, and enhanced pre-play and in-play odds for punters.
While traditional markets will once again rule the roost as the professional sports world returns to something approaching normal, the webinar will explain why sportsbook operators should not neglect deeper market choice in an era when consumer demand is driven by instant need and reaction.
The Digitain panel features:
Speakers
Simon Westbury, Head of Sales Department
Tigran Grigoryan, Live Sport Responsible
Edmond Ghulyan, Product Manager
Moderator
Peter Nolan, Strategic Consultant
- Don Shapiro, Gambling911.com
