Colorado sports betting soars past $2.3 billion in first year

Local News

AmeriStar (Credit: CDOR)

LAKEWOOD, Colo. (KDVR) – Colorado topped $2.3 billion in total wagers placed for the first year of legalized sports betting.

The first bet was placed May 1, 2020. The state reached the $1 billion mark in December.

“The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado,” said Division of Gaming Director Dan Hartman.

“Looking back on a year ago, I don’t believe any of us expected to be where we are with our numbers and our operations.”

Gross Gaming Revenues totals for the first year reached $148,103,448, with $2,325,477,052 (unaudited) total wagers between May 1, 2020, and April 30, 2021, according to the Colorado Department of Revenue.

“Launching the program in the midst of uncertainty, the Division of Gaming credits the success of the first year to the pragmatic and thoughtful enabling legislation, the partnerships established with industry stakeholders, the open competitive market created through the rules and regulations, and the commitment of the division’s staff and partners to get it right for Colorado,” Executive Director of the Colorado Department of Revenue Mark Ferrandino said.

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