LAS VEGAS, Jan. 31, 2022 /PRNewswire/ --Colorado sportsbooks ended 2021 on a roll, with monthly wagering in December approaching $500 million for the third consecutive month even as it slowed from October's and November's high-water marks. December's brisk pace was the final chapter in a year that generated $250 million in revenue on nearly $4 billion in wagers, making Colorado the sixth largest state in terms of annual betting volume in a rapidly expanding U.S. market, according to PlayColorado, which tracks the state's regulated sports betting market.
"The last three months of 2021 really put an exclamation point on what has been relentless growth all year," said Ian St. Clair, lead analyst for PlayColorado.com. "Coloradoans continue to wager at a pace on par with more populous states, and it is still a market that has not yet fully matured. The state's sportsbooks are in a really good place."
Colorado's online and retail sportsbook took in $461.4 million in wagers in December, up 62.6% from $284.6 million in December 2020, according to data released Monday by the Colorado Division of Gaming. December's handle which included $454.9 million in online bets, or 98.6% of the total handle extended a hot streak that included $475.4 million in November and a record $491.5 million in October.
Bettors fared better in December after sportsbooks won a record-shattering $36.8 million in gross revenue in November. But Sportsbooks still grossed $24.7 million from December's bets, which was up 44.2% from $17.2 million in December 2020. Net sports betting proceeds fell to $5.3 million from $5.7 million in December 2020, well short of the record $19.3 million in November. The month's win yielded $770,370 in state taxes, breaking a two-month streak of tax revenue greater than $1 million.
The first full year of legal sports betting in Colorado brought explosive growth throughout. In 2021, Colorado sportsbooks generated:
"By nearly every metric Colorado is hitting above its weight class, with the exception of the tax revenue sports betting generates," said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayColorado.com. "Importantly, tax revenue ramped up at the end of the year, which is a positive development. That could continue as the market expands and sportsbooks begin to taper their promotions."
One reason why sportsbooks were able to finish the year on a high note is the increasing popularity of basketball betting, particularly the NBA. Pro football was the hottest ticket in December with $136.5 million in wagers, down slightly from $140.3 million in November. But pro basketball was just behind with $125.5 million in bets, up from $124.7 million in November.
In the end, it was pro basketball that drew the most bets in 2021 with $958 million in wagers. Meanwhile, pro football took in $689.2 million in 2021.
"Interest in the Nuggets combined with the Broncos' struggles contributed to the leveling of interest in football and basketball in December," said Ian St. Clair, lead analyst for PlayColorado.com. "Football is popular in every legal U.S. market. But a hallmark of the highest volume U.S. markets is that the NBA, with its 82-game regular season and long postseason, tends to be a more consistent bet producer than the NFL. Colorado is clearly fitting into that pattern."
For more: PlayColorado.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
Contacts:Zack Hall, Catena Media, 1-775-338-0745, [emailprotected]
SOURCE PlayColorado.com
Continue reading here:
Sportsbooks Cap 2021 With $460 Million in Bets in December - PRNewswire
- Betting on Little League is not allowed in the Regal Sportsbook - Pennsylvania News Today [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- NFL playoff predictions: How the public is betting playoff odds heading into preseason Week 2 - DraftKings Nation [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- Soccer live streams: How to watch weekend's best games on TV, including Serie A, Arsenal vs. Chelsea and PSG - CBS Sports [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- DraftKings Sportsbook Is Now A Partner With Baltimore Ravens - Legal Sports Betting [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- Connecticut Sports Betting Will Not Launch Before the 2021 NFL Season Opener - The Action Network [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- NASCAR Best Bets: Motorsports Picks, Odds to Consider on DraftKings Sportsbook for the FireKeepers Casino 400 - DraftKings Nation [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- Jay-Z rolls dice to open New York sportsbook, partners with Fanatics - Page Six [Last Updated On: August 20th, 2021] [Originally Added On: August 20th, 2021]
- Two More Tennessee Sportsbooks Could Be Approved Next Week - Legal Sports Report [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- Nevada Clears $1 Billion In Post-PASPA Sportsbook Revenue With Strong July - US Bets [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- DraftKings Agrees to Multi-Year Deal with Simplebet to Expand Sportsbook In-Game Offerings - Yahoo Finance [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- Gen Z Bettors Ready To Capture Sportsbook Industrys Attention - US Bets [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- Rush Street Interactive to Bring BetRivers Online Sportsbook to Arizona With the Arizona Rattlers - Business Wire [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- First Wisconsin Sportsbook Targeting November Opening - The Action Network [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- The Caesars Sportsbook App is Now Live in Arizona! - KPVI News 6 [Last Updated On: August 28th, 2021] [Originally Added On: August 28th, 2021]
- White Hat Gaming PAM casino and sportsbook solution debuts in New Jersey - Yogonet International [Last Updated On: September 1st, 2021] [Originally Added On: September 1st, 2021]
- FanDuel Illinois NFL Week 1 Promos: Sportsbook Offers And Free Bets - TheLines.com [Last Updated On: September 1st, 2021] [Originally Added On: September 1st, 2021]
- Fubo Gaming Receives Approval to Offer Online Sports Wagering From the Iowa Racing and Gaming Commission - Business Wire [Last Updated On: September 1st, 2021] [Originally Added On: September 1st, 2021]
- Grand Central in Adams Morgan approved "for the operation of a full-service, independent sportsbook with no restrictions on maximum bets and all... [Last Updated On: September 1st, 2021] [Originally Added On: September 1st, 2021]
- ESPN Looks to License Its Brand to a Sportsbook for $3 Billion - SportTechie [Last Updated On: September 1st, 2021] [Originally Added On: September 1st, 2021]
- PointsBet Illinois NFL Week 1 Promos: Sportsbook Offers And Free Bets - TheLines.com [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- New Jersey Sportsbook NFL Week 1 Promos: Free Bets And Other Offers - TheLines.com [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- BetRivers Illinois NFL Week 1 Promos: Sportsbook Offers And Free Bets - TheLines.com [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- NASCAR Best Bets: Motorsports Picks, Odds to Consider on DraftKings Sportsbook for the Cook Out Southern 500 - DraftKings Nation [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- Fumble! NFL's role in sports gambling is a recipe for disaster and it should step back - USA TODAY [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- Analysts Ask: Is a $3 Billion ESPN Sportsbook Really Worth It? - Pokerfuse [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 3 - DraftKings Nation [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- Sports betting in Arizona: Here is what the D-backs, Caesars sportsbook might look like - ABC15 Arizona [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- FuboTV's Sportsbook Is Coming in Q4 - The Motley Fool [Last Updated On: September 4th, 2021] [Originally Added On: September 4th, 2021]
- Add Barstool To The Growing List Of New Jersey Sportsbooks - NJ Online Gambling [Last Updated On: September 10th, 2021] [Originally Added On: September 10th, 2021]
- NASCAR Best Bets: Motorsports Picks, Odds to Consider on DraftKings Sportsbook for the Federated Auto Parts 4 - DraftKings Nation [Last Updated On: September 10th, 2021] [Originally Added On: September 10th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 9 - DraftKings Nation [Last Updated On: September 10th, 2021] [Originally Added On: September 10th, 2021]
- NFL Week 1: Best Sportsbook Promos and Boosts (Ranked) - 4for4 [Last Updated On: September 10th, 2021] [Originally Added On: September 10th, 2021]
- Scout Gaming kicks off second half year with multiple deals and sportsbook launch - marketscreener.com [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 12 - DraftKings Nation [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 13 - DraftKings Nation [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- Top NJ Regulator To Books: "Regulate Sportsbook Advertising Or We Will" - Legal Sports Report [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- NASCAR Best Bets: Motorsports Picks, Odds to Consider on DraftKings Sportsbook for the Bass Pro Shops Night R - DraftKings Nation [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- NFL Week 2: Best Sportsbook Promos and Boosts (Ranked) - 4for4 [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- Big bet: Restarting the conversation on sportsbook - NonDoc [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- Connecticut Sports Betting at Retail Sportsbooks Nears as Online Rollout Continues - The Action Network [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- NFL betting: The wagers that helped sportsbooks clean up in Week 1 - New York Post [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- Unibet Sportsbook Comes To Arizona With $50 Free Bet - bleachernation.com [Last Updated On: September 16th, 2021] [Originally Added On: September 16th, 2021]
- Bet $5 on Colts or Titans, Win $150 with FanDuel Sportsbook Promo - Sports Betting Dime [Last Updated On: September 24th, 2021] [Originally Added On: September 24th, 2021]
- DraftKings Sportsbook Promo - Bet On The Ryder Cup 2021 - ATS.io [Last Updated On: September 24th, 2021] [Originally Added On: September 24th, 2021]
- Opinion: Constant Sportsbook Advertising On TV Hard To Curb Legally - Legal Sports Report [Last Updated On: September 24th, 2021] [Originally Added On: September 24th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 23 - DraftKings Nation [Last Updated On: September 24th, 2021] [Originally Added On: September 24th, 2021]
- Sportsbook Wire's NFL Week 3 Picks: ML, ATS and OU predictions for all games - USA TODAY Sportsbook Wire [Last Updated On: September 24th, 2021] [Originally Added On: September 24th, 2021]
- 2021 NFL Week 3 Best Bets - DraftKings Nation [Last Updated On: September 27th, 2021] [Originally Added On: September 27th, 2021]
- Notable bets - Tucker's kick saves one of the most popular weekend bets - ESPN [Last Updated On: September 27th, 2021] [Originally Added On: September 27th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for September 27 - DraftKings Nation [Last Updated On: September 27th, 2021] [Originally Added On: September 27th, 2021]
- Connecticut Retail Sports Betting Clear Final Hurdle, Could Open Before Online Sportsbooks - The Action Network [Last Updated On: September 27th, 2021] [Originally Added On: September 27th, 2021]
- College Football Week 6 Odds, Promos: Over $800 FREE Available in Sportsbook Offers! - The Action Network [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- Tipico Sportsbook narrowly favors the Saints in Week 5 at Washington - Saints Wire [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- Which Sportsbooks Have the Best NFL Teaser Prices? - The Action Network [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- MLB Playoff Betting Promotions, Sportsbook Bonuses & Boosts - ATS.io [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- Barstool Sportsbook Promo and Odds Boosts for Yankees vs. Red Sox Wild Card Game - Crossing Broad [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- NFL Week 5 Picks: Sportsbook Wire's ML, ATS and OU predictions for all games - USA TODAY Sportsbook Wire [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- Louisiana Sports Betting Begins With Retail Sportsbook Opening - The Action Network [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for October 11 - DraftKings Nation [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- The George Washington Bridge in New York Has Its Own Sportsbook - GamblingNews.com [Last Updated On: October 11th, 2021] [Originally Added On: October 11th, 2021]
- The Best Sportsbook Promo Codes and Bonus Offers for NFL Week 6 - The Action Network [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- NBA Odds Betting Preview: Analyzing the Lines on DraftKings Sportsbook for 2021-22 - DraftKings Nation [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- Here's where New York is in the mobile sports betting process - Times Union [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- GAN to help Red Rock Resorts with its sportsbook infrastructure in Nevada - SBC Americas [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- Brooklyn Nets favored to win NBA title, but bettors backing the Los Angeles Lakers - ESPN [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- MLB Best Bets: Baseball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for October 19 - DraftKings Nation [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- Caesars Sportsbook Louisiana Soft Launch Expected this Week - Sports Betting Dime [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- FanDuel Arizona Sportsbook Gives 75-1 Odds Boost on Suns to Win - Mile High Sports [Last Updated On: October 19th, 2021] [Originally Added On: October 19th, 2021]
- The Sportsbook's Preview of the 2021-22 Utah Jazz - Salt City Hoops [Last Updated On: October 24th, 2021] [Originally Added On: October 24th, 2021]
- Heres the Best Caesars Sportsbook Promo Code for This Weekend - Mile High Sports [Last Updated On: October 24th, 2021] [Originally Added On: October 24th, 2021]
- Here Are the Best Connecticut Sportsbook Promos and Bonuses - Elite Sports NY [Last Updated On: October 24th, 2021] [Originally Added On: October 24th, 2021]
- This Is the Best Barstool Sportsbook Promo This Weekend - Crossing Broad [Last Updated On: October 24th, 2021] [Originally Added On: October 24th, 2021]
- 2021's Top Bet Online Sportsbook: Bet Now Legally & Safe with Online Sports Betting Sites - Blog - The Island Now [Last Updated On: October 24th, 2021] [Originally Added On: October 24th, 2021]
- FanDuel Sportsbook NFL Promo Offers Bet $5, Win $125 if Vikings or Cowboys Score TD - bleachernation.com [Last Updated On: October 26th, 2021] [Originally Added On: October 26th, 2021]
- Connecticut Lottery and Gov. open first commercial retail sportsbook with RSI - Yogonet International [Last Updated On: October 26th, 2021] [Originally Added On: October 26th, 2021]
- DraftKings Sportsbook UFC Promo Gives 40-1 Odds on Any Fighter to Win - bleachernation.com [Last Updated On: October 26th, 2021] [Originally Added On: October 26th, 2021]
- Rush Street Interactive Crowned Sportsbook of the Year at the SBC Awards Latinoamrica 2021 - PRNewswire [Last Updated On: November 5th, 2021] [Originally Added On: November 5th, 2021]
- NBA Best Bets: Basketball Picks, Predictions, Odds to Consider on DraftKings Sportsbook for November 4 - DraftKings Nation [Last Updated On: November 5th, 2021] [Originally Added On: November 5th, 2021]
- NFL Week 9 Picks: Sportsbook Wire's ML, ATS and OU predictions for all games - USA TODAY Sportsbook Wire [Last Updated On: November 5th, 2021] [Originally Added On: November 5th, 2021]
- DraftKings Sportsbook Offers Bet $5, Win $200 on UFC 268 - bleachernation.com [Last Updated On: November 5th, 2021] [Originally Added On: November 5th, 2021]