Source: Hudson Reporter

Colorado's Booming Sports Betting Market Nears $15 Billion Since 2020

Since the legalization of sports betting in May 2020, Colorado has seen nearly $15 billion in wagers, showcasing significant growth from the initial $64 million in the partial year of betting. According to recent data, bettors in Colorado have pushed the stakes to over $5 billion in 2023 alone.

Between May 2020 and April 2023, players have collectively won $11.28 billion. Basketball emerged as the most popular sport for betting, accounting for 24.7% of total bets, with football and baseball following at 15.9% and 10.1%, respectively.

Sports marketing expert Darrin Duber-Smith, a professor at Metropolitan State University of Denver, predicts that the state's betting industry is only at its nascent stage and set to grow further. “It's only beginning. The sports betting industry has nowhere to go but forward,” he commented, indicating the unexplored potential in this sector.

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