Colorado Sees Sports Betting Figures Decline in May
Colorado Sees Sports Betting Figures Decline in May Pleas Subscribe For Daily Sports Betting News
Bet at MGM - IF YOUR BET LOSES, YOU’LL GET UP TO $1,000 BACK IN BONUS BETS - https://bit.ly/BetMGM1
Want To Place a Bet .. Download the Best Online Sportsbook! (IOS) http://bit.ly/453YUZG
Grab Barstool Sports Apparel @ The Official Barstool Store: https://bit.ly/barstool23
Bet On All The Big Games @ Xbet: https://bit.ly/xbetnow
First Deposit Bonus Up To $500 + $10 Casino Chip
Please Subscribe!
May is never a great month for legal sports betting. But states like Colorado were in a stronger position than most thanks to the Denver Nuggets, who played in every round of the NBA playoffs. But despite the extra exposure, Colorado’s betting market was unable to grow compared to April, which had the NCAA tournament and Colorado Avalanche games to its credit. Colorado's Department of Revenue reported that the state's retail and online operators took in $385.2 million in May, a 7.8% monthly decline, falling below $400 million for the first time this year. While May was the worst month...
May is never a great month for legal sports betting. But states like Colorado were in a stronger position than most thanks to the Denver Nuggets, who played in every round of the NBA playoffs. But despite the extra exposure, Colorado’s betting market was unable to grow compared to April, which had the NCAA tournament and Colorado Avalanche games to its credit. Colorado's Department of Revenue reported that the state's retail and online operators took in $385.2 million in May, a 7.8% monthly decline, falling below $400 million for the first time this year. While May was the worst month in 2023, its handle, hold, and tax bill were all better than May 2022. The Centennial State saw a nearly 7% yearly growth in its betting market, and thanks to a higher hold, led to a 37.5% jump in tax revenue, hitting $2.2 million. Bettors see basketball success Having the home team dominate in the playoffs is never good news for the region's books, and that was the case in Colorado sports betting. Bettors brought down the betting sites' overall hold percentage from 8.4% to 8.1%, all thanks to the Nuggets and their march towards their first NBA championship. The month of May had the second round of the NBA playoffs and the conference finals; and not surprisingly, Coloradans watched and bet. Basketball (not counting parlays) was the most popular sport to bet on in May, consisting of 32.2% of the entire market, beating baseball (23.8%), and tennis (7.4%). And while the operators made a profit in their NBA bets, it was much lower than usual. The hold percentage was just 4%, the lowest of every sport. And compared to 2022, basketball bets grew by roughly 20%, while the popularity of baseball stayed unchanged year over year. This article originally appeared on Covers.com, read the full article here
Source: https://www.covers.com/industry/colorado-revenue-sports-betting-report-may-2023
-
22:10
Degenerate Jay
1 day ago $7.86 earnedMarvel Superhero Games Have A Big Problem
56.1K6 -
8:02
scoutthedoggie
19 hours agoHill Top Airsoft Battle Scotland 4K
4.17K4 -
8:06
Bearing
23 hours agoP Diddy Was TELLING US THE WHOLE TIME!
5K9 -
8:58
Tactical Advisor
1 day agoNEW Budget SHTF Optic | Primary Arms GLX Micro Prism
4.82K -
11:45
Space Ice
20 hours agoVan Damme's Legionnaire Is Like 'Full Metal Jacket' If Kubrick Wasn't Terrible - Best Movie Ever
4.87K12 -
0:53
OfficialJadenWilliams
18 hours agoChatGPT Vs. Google Gemini
4.55K1 -
3:16:17
-
LIVE
Right Side Broadcasting Network
7 days agoLIVE REPLAY: President Trump Returns for a Historic Rally in Butler, Pennsylvania - 10/5/24
8,066 watching -
2:55:35
Nitrocross
8 days agoNitrocross Busch Light Race to the Mountains | Round 3 | October 5, 2024| 6pm ET / 4pm MT
107K26 -
3:03:41
The Quartering
21 hours agoDonald Trump Elon Musk LIVE Rally In Butler Pennsylvania! Live Commentary & Hangout!
171K166