Colorado Sports Betting Earns $25.5m Gross Revenue in First Month after Lockdown

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Colorado is on the verge of preparing its sports betting industry. The state plans massive possibilities as they earn huge revenue by $25.5 million during the first month of its formation.

Many casinos along with other gambling entities faced shutdown around mid-March because of the government order to close virus prone institutions.

People were required to stay in their homes whilst the gambling industry was closed for close to three months. Whilst the lockdown was going on and casinos were closed, the sports betting market in the Colorado state faced its debut.

The Colorado sports betting started operations on 1 May, this has made most gamblers to have somewhere to place their bets since casinos are still not yet operating.

Colorado Sports Betting on Purple Patches

Sports betting market in Colorado began on a very positive note, generating $25.5 million in revenues during the first month. The likes of other sportsbooks such as BetMGM, DraftKings Sportsbook and FanDuel Sportsbook also launched their sports betting platforms on May 1.

There have been some positive reactions towards the opening of Colorado sports betting space. Most gamblers are ready to visit the sportsbook and place their bets on their favourite games. With most league games resuming behind closed doors, sports betting is the best platform for players to engage on their teams and watch them play. They cannot watch them play only, but they can also place real money bets towards their favourite teams.

Colorado Casinos Recent Survey

1. Close to 75% of gamblers highlighted that they will make a return to Colorado casinos soon after they are open.
2. 18% of real money gamblers are slightly cautious as they indicated that “they will wait a few weeks”
3. The amazing news for Colorado casino is that 7% are one month away of returning to the casino. At the same time, only one player out of the 139 who completed the survey responded that they would entirely not visit the casino.

Gambling Industry in Colorado Showing Massive Possibilities

With COVID-19 pandemic still with us, many businesses have suffered major loses. And for businesses in Colorado State, it’s even worse. Many huge events faced cancellation along with the closure of many casino houses.

However, there are reports that Black Hawk and Central City casinos are planning to open its doors for patrons on June 17.

Above all, most casino gamblers have indicated on the survey carried by the casino that they want to wear facemasks. The wearing of facemasks will assist them to combat the spread of the coronavirus and serve more lives.

Final Thoughts

Sports betting in Colorado State is now on the brink of offering bettors the best chance of winning real money. Even though betting houses have been closed, the euphoric towards its reopening is massive. Gamblers can’t wait for the best opportunity of placing their bets on their favourite sports at Colorado sports betting houses.

FAQs

[accordion group=”468″ title=”Is sports betting legal in Colorado?” active=”true”]Yes, Colorado sports betting is legal, operations started taking place on May 1 2020. This was after voters approved to legalize sports betting in November 2019.[/accordion][accordion group=”468″ title=”Can I bet online in Colorado State?” active=””]Definitely, legal sportsbook applications such as DraftKings and FanDuel are allowing bets from Colorado as from May 1.[/accordion][accordion group=”468″ title=”What is the legal gambling age in Colorado?” active=””]The legal gambling age in the state of Colorado is 18 for lottery and bingo. Whereas 21 is for casino games and horse racing.[/accordion][accordion group=”468″ title=”Is any other real money gambling legal in Colorado?” active=””]The state permit social gambling that can take place between private parties. The state’s 33 casinos will offer you gambling on horseracing and real money slots and table games.[/accordion][accordion group=”468″ title=”What are the best sports betting apps to use in Colorado?” active=””]

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