Colorado became the 36th state to allow sports betting last year. The state’s new sportsbooks opened their doors just in time for the start of the Major League Baseball season, and have been doing relatively well since then. According to Steve Marks, owner of Upper Deck Marketing, a sportsbook broker, the state’s legalization was a “super-substantial” boost to the industry.
“We saw a 25% increase in wagers placed on the Ohio-based professional baseball teams, both home and away games,” Marks said. “The boost in wagers was immediate and sustained. There was an influx of cash into the local economy, and an increase in tax revenue.”
Indeed, the Colorado Gaming Association reported that annual sports gambling revenue shot up from $80 million to $160 million after legalization. The state’s sportsbooks saw an increase in wagers placed from 2.9 million to 4.2 million, and they expect that number to rise as more people get use to betting on sports.
The first legal sportsbook in Colorado opened at the beginning of last year, but they had to close down after just a few months. The owner of that establishment, who wished to remain anonymous, cited competition from illegal books as the reason why he had to shut down. Fortunately, a couple of other legal sportsbooks have opened up since then. If you’re interested in placing a bet on sports, you can read our primer on how to do it legally.
When Did Sports Betting Become Legal?
Colorado became the 36th state to allow sports betting last year. The state’s new sportsbooks opened their doors just in time for the start of the Major League Baseball season, and have been doing relatively well since then. According to Steve Marks, owner of Upper Deck Marketing, a sportsbook broker, the state’s legalization was a “super-substantial” boost to the industry.
“We saw a 25% increase in wagers placed on the Ohio-based professional baseball teams, both home and away games,” Marks said. “The boost in wagers was immediate and sustained. There was an influx of cash into the local economy, and an increase in tax revenue.”
Indeed, the Colorado Gaming Association reported that annual sports gambling revenue shot up from $80 million to $160 million after legalization. The state’s sportsbooks saw an increase in wagers placed from 2.9 million to 4.2 million, and they expect that number to rise as more people get use to betting on sports.
The first legal sportsbook in Colorado opened at the beginning of last year, but they had to close down after just a few months. The owner of that establishment, who wished to remain anonymous, cited competition from illegal books as the reason why he had to shut down. Fortunately, a couple of other legal sportsbooks have opened up since then. If you’re interested in placing a bet on sports, you can read our primer on how to do it legally.
Why Are Sportsbooks Popular In Colorado?
While there is certainly no question that sports betting has benefited from the legalization movement in Colorado, it is not the only state where the activity is permitted. Pennsylvania currently allows sports betting with licensed operators, and New Hampshire allows a small number of bookmakers to offer wagers on major sporting events. The trend of allowing “sports wagering” appears to be here to stay, as more and more states weigh in on whether to legalize the activity.
It’s not hard to see why Colorado would be at the forefront of this movement. Not only does the state allow gambling on a wide variety of sporting events, it also has a large number of college sports fans. Colorado also has a large Hispanic population, and many of them are definitely into sports betting. If you’re looking for a place to wager, you can’t go wrong with Colorado.
Why Is Football So Popular To Bet On?
There is plenty to bet on in the world of sports, and fans of the gridiron certainly have their eyes set on the NFL, where the money is. In fact, the Super Bowl, the Hall of Fame Game, the Pro Bowl, the Monday Night Football doubleheader, and the total point differential between the two teams are all popular bets for sportsbooks to make.
The National Football League season kicks off on September 10th, and many places will be counting down the days with excitement. Just because NFL games are legal to bet on, it doesn’t mean that they can’t be any fun to watch! And what’s more, watching sports is often a good way to learn more about a country than you would from reading a map. So, if you’re ever in Colorado, why not try some NFL action? You might like it. You never know…
Is It Widely Accepted In Colorado To Bet On Sports?
While there is certainly no question that sports betting has benefited from the legalization movement in Colorado, it is not the only state where the activity is permitted. Pennsylvania currently allows sports betting with licensed operators, and New Hampshire allows a small number of bookmakers to offer wagers on major sporting events. The trend of allowing “sports wagering” appears to be here to stay, as more and more states weigh in on whether to legalize the activity.
It’s not hard to see why Colorado would be at the forefront of this movement. Not only does the state allow gambling on a wide variety of sporting events, it also has a large number of college sports fans. Colorado also has a large Hispanic population, and many of them are definitely into sports betting. If you’re looking for a place to wager, you can’t go wrong with Colorado.
While there is certainly no question that sports betting has benefited from the legalization movement in Colorado, it is not the only state where the activity is permitted. Pennsylvania currently allows sports betting with licensed operators, and New Hampshire allows a small number of bookmakers to offer wagers on major sporting events. The trend of allowing “sports wagering” appears to be here to stay, as more and more states weigh in on whether to legalize the activity.