Despite college football being postponed, there have been record-highs for legalized sports betting in the State of Colorado. According to the Colorado Department of Revenue of Gaming, a total of $128.6 million was brought in for the month of August in all forms of betting (online and in-person). The first time revenue exceeded $100 million in Colorado sports betting history.
There was a $69 million increase from July’s total of $59 million, which means profits shot up 117 percent overall. Despite not having any college games on the docket, the late seasons for the NBA, NHL and MLB — with three of Denver’s professional teams in action —likely helped boost the people’s attention to opening their wallets.
As one of Colorado’s newest industries, sports betting has driven consumers to contribute more and more over the past four months. August’s total was more than the previous three months combined. The month of May started at $25 million with an increase to $38 million in June. The low figures from the first two months could be attributed to the lack of American sports being played due to the pandemic.
Expect to see a slight increase for the month of September with the Denver Broncos starting the season, the Denver Nuggets making the Western Conference Finals and the Colorado Avalanche losing a dramatic Game 7 heart breaker to the Dallas Stars on Sept. 4.