Colorado generates USD 25.5 M in sports betting revenue since May's launch

During a time of casino closures and league shutdowns, Colorado bettors have shown their willingness to engage with the state's newly regulated sports betting offer. Since launching on May 1, the state has generated $25.5 million in gross, unaudited sports betting revenue.

In a recent survey by ColoradoSharp.com, 75% of respondents said they would return to casinos "as soon as they're open."

"Colorado's month-one results cement the state as a leader in the US gambling arena. $25 million in revenue is impressive on its own, and it's even more impressive when you consider how sparse the gambling options are during a globally trying time," said Chris Nesi, Managing Editor for ColoradoSharp.com. "This first month showcases the strength of the Colorado gaming industry, and I think we'll continue to see impressive numbers from the state in the future."

Closures related to the Covid-19 pandemic resulted in revenue loss nearing $100 million through April 30 alone. However, amid a challenging time for the state, Colorado's first month of sports betting generated more than $25 million.

ColoradoSharp.com compared this figure to Indiana's launch month, and concluded Colorado's number is "particularly impressive": Indiana earned $35 million in October 2019 when it debuted sports betting absent any casino closures. Colorado's numbers in light of league cancellations and virtually no casino activity bode well for the future of sports betting in the state, ColoradoSharp.com's recent casino reopening survey suggests.

In the survey, three-quarters of participants said they would return to casinos as soon as they reopen. 75% of survey takers intend to wear a mask when visiting a casino, and 50% said it is "very important" that casinos take social distancing safety measures upon reopening.

See the full survey results here.