Sports betting has become increasingly popular in recent years, and Colorado is no exception. In fact, according to the Colorado Division of Gaming, sportsbooks in the state accepted a total of $417.8 million in wagers during the month of April alone.
This is a significant increase from the previous month, when sportsbooks in Colorado accepted $326.9 million in wagers. The rise in sports betting activity can be attributed to a number of factors, including the growing popularity of online sports betting platforms and the legalization of sports betting in more states across the country.
One of the main drivers of sports betting activity in Colorado is the state’s relatively liberal approach to gambling. In 2019, Colorado voters approved Proposition DD, which legalized sports betting in the state and allowed for the establishment of licensed sportsbooks.
Since then, a number of major sports betting operators have entered the Colorado market, including DraftKings, FanDuel, and BetMGM. These companies have invested heavily in marketing and advertising campaigns to attract new customers, and their efforts appear to be paying off.
Another factor contributing to the growth of sports betting in Colorado is the increasing availability of mobile betting platforms. Many sportsbooks now offer mobile apps that allow users to place bets from anywhere within the state, making it easier than ever for people to participate in sports betting.
Of course, not all sports are created equal when it comes to betting activity. According to the Colorado Division of Gaming, basketball was the most popular sport for betting in April, with a total of $141.2 million in wagers placed on NBA and NCAA basketball games.
Other popular sports for betting included baseball ($77.1 million), hockey ($54.3 million), and soccer ($44.6 million). Interestingly, despite the popularity of football in Colorado, it was only the fifth most popular sport for betting in April, with a total of $42.7 million in wagers.
Overall, the rise of sports betting in Colorado is a reflection of the growing acceptance of gambling as a legitimate form of entertainment. As more states legalize sports betting and more companies enter the market, it’s likely that we’ll continue to see growth in this industry for years to come.
