Colorado Online Sports Betting Sees Big July Increase With Return of Sports

This may come as no surprise, but Colorado sports betting, particularly Colorado online sports betting, saw a major increase in activity in July.

Of course, it is no coincidence that major sports leagues around the world resumed play last month, finally giving CO bettors their first sustained look at meaningful major sports action. Specifically, the return of MLB and NBA games, along with international soccer contests, helped spur significant growth, according to a recent report from the Colorado Department of Revenue.

Notably, more than $59 million was wagered in July, presenting a 55% increase from June’s numbers.

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Colorado Online Sports Betting Leads the Way in July

Unsurprisingly, Colorado online sports betting action dominated the state’s gaming market in July. Popular online sportsbooks such as DraftKings Sportsbook, FanDuel Sportsbook, BetRivers, and FOX Bet have been extremely popular in the early months of the CO’s online betting rollout.

Thanks to fierce competition between rival online sportsbooks, Colorado bettors were able to take advantage of a variety of bet boosts, free bets, and bonus payouts within the different apps.

Not only does online and mobile wagering hold a distinct advantage in terms of convenience and efficiency over retail wagering, brick and mortar locations were still dealing with an assortment of COVID-19 restrictions.

The $5,031,039 of online gross gaming revenue accounted for nearly all of the state’s total $5,196,598 GGR.

The Return of Mainstream Sports Sparks Big Growth

The ability for Coloradans to finally bet on mainstream sports for the first time since the state officially rolled out legal sports betting back on May 1st was a big factor. Previously, the state’s bettors were relegated to wagering on niche sports such as table tennis, which was the most heavily bet upon sport in June.

Baseball, which officially returned on July 23 when the Yankees and Nationals met in Washington, led the way in terms of dollars wagered at $9,217,342, good for 15.6 percent of total dollars in play. Meanwhile, soccer maintained a hold on the second-most wagered sport and table tennis slid to the third.

Here’s a look at the top sports based on total wagers during July:

1. Baseball
2. Soccer
3. Table tennis
4. Golf
5. Basketball
6. MMA
7. Tennis
8. Motorsports
9. Hockey
10. Boxing

With the NBA and NHL revving up in August, look for basketball and hockey to each join baseball atop the list in the next report. It’s also expected that the overall growth trends will continue in August with the spike in sports. Much of the same is expected in September when the NFL, which is king when it comes to sports betting, kicks off its season.

More Competition in Colorado Online Sports Betting

Colorado is a key state in online sports betting’s westward expansion. After Proposition DD was voted into action last November, the state rolled out legal online sports betting amid a dearth of sports.

In the early going, big-time players such as DraftKings Sportsbook, FanDuel Sportsbook, FOX Bet, and Betrivers have been among the most popular online betting options.

With advantageous tax rates for online operators, it is widely expected that in the coming weeks and months that others will soon join the growing fray.

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