Colorado’s Sportsbooks are Bringing in More Revenue than Expected

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3 Minute Read
  • Colorado’s sportsbooks have been posting major revenue earnings over the past month. 
  • The majority of sports bets placed in the state have been on the 2021/2022 NFL season.
  • Revenue from these sportsbooks is helping to fund Colorado’s various water projects. 

The first regulated sportsbook launched in Colorado back in May of 2020. Many analysts predicted this state would develop a large, successful sports betting industry. New reports indicate Colorado’s sportsbooks are bringing in much more money than most expected.

This money is being used to fund Colorado’s water projects. Many have been pleased to see how much money is flowing into these plans.

Here’s what you need to know!

Revenue From Colorado’s Sportsbooks is Surpassing Expectations

Colorado is well-known for having a massive sporting fan base. It’s here that popular professional teams including the Denver Broncos and Denver Nuggets are based. Lawmakers eventually passed legislation to regulate sports betting in 2020, arguing this industry would help to find various state projects. Some of the world’s biggest sports betting operators quickly worked their way into this new market.

The main goal was for sports betting revenue to fund Colorado’s water projects. The Colorado Water Plan has been more important than ever when considering how low many of Colorado’s River reservoirs are. Fortunately, this plan seems to be working better than some anticipated.

Colorado’s sportsbooks are now generating far more revenue than initially expected. In fact, $44 million has already been wagered on the 2021/2022 NFL season here. Daniel Hartman, director of Colorado’s Division of Gaming, claims mobile football betting helped to bring in much of the revenue for the state.

“Football is going full bore. It was a big opening for us,” Hartman said. “It really is the biggest market for sports betting… People found a new way to watch and enjoy sports while they were at home and not actually in the stadiums.”

Both land-based and online sports betting is now regulated in Colorado. We’ll be sure to offer updates on how much revenue this industry is bringing the state over the next few months.

US Sports Betting Revenue is Expected to Increase Significantly by 2025

Just a few years ago, only Nevada was legally able to accept sports wagers. PASPA’s removal in May of 2018 completely changed things. More than half the country has since launched its own regulated sports gambling operations.

New reports have surfaced that claim annual US sports betting revenue will surpass $7 billion by 2025. The European Business Review points to the massive surge of revenue being earned on the current NFL season. It also looks at the various states currently working to legalize this form of gambling.

Some feel this number is far shy of what will be brought in by 2025. States around the country continue to see massive surges of sports betting revenue brought in every month. August proved to be a slow month for this industry, yet things are expected to bounce back in a big way this September.

Several more states are expected to legalize sports betting in 2022. That includes California, where lawmakers are working to come to agreements with various tribal groups. All signs point to a sports gambling measure making its way to the voting ballots here in November of next year.

There are a huge number of fantastic US online sportsbooks currently available throughout the entire country. Here’s a look at some of the NFL odds available through these sites.

Breaking Down the Best Odds for the NFL’s Week 3

The first game of the NFL’s third week takes place tonight. The Carolina Panthers will be looking to extend their unbeaten streak against the Houston Texans. Bovada, one of the best US online sportsbooks, is providing some fantastic odds on this exciting game.

The Panthers have continued to defy expectations. The team’s recent win over the Saints was one of the best this season. They are coming into this game as the -420 favorites and seem on track to earning their third-straight win.

The Houston Texans are coming into this game with a home-field advantage. The Texans are 1-1 this season and need a win here to prove they have playoff potential. Bovada lists them as the +315 to do so.

A variety of fantastic odds are being provided for Sunday’s games, too. All of these odds are offering football fans some massive opportunities to cash out. Make sure to check out some of the prop betting options for these games, too.

Are you surprised to hear how much money Colorado’s sportsbooks are bringing in right now? Let us know in the comments section below.

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...

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