Colorado’s sports betting market saw its handle more than double from July to August thanks to new operators and the return of major league play.
Figures released Wednesday by the Colorado Department of Revenue’s Division of Gaming show the state’s licensed bookmakers generated betting turnover of over $128.6m in August, up 117% from July’s figure. Of that sum, digital channels accounted for all but $2m.
August’s betting revenue totaled $1.88m, a step down from July’s $2.4m, as hold slipped nearly three points from July to 5.85%. The return of NBA action drove August’s handle surge, as basketball’s share of the wagering pie shot up 24 points month-to-month to 29.6%, while baseball slipped to second place despite rising nearly two points to 17.7%.
Basketball’s resumption took a big bite out of ping pong, which had gamely tried to fill the void left by the pandemic-related halt of most major sports. Table tennis accounted for 24% of June’s wagers, but that dipped to 8.6% in July wagers and dipped further to just 3.5% in August. See you during the second COVID wave, fellas.