Colorado launched its legal sports betting market on May 1, 2020, with players in the state able to bet both online and in person at retail sports bookmakers.
The market got off to a rough start with players limited to online betting in the first few months of regulation due to new restrictions on the coronavirus (covid-19). The lack of sporting events as a result of Covid’s forced cancellations and postponements also hampered initial progress.
However, as the main sports returned in August, the market saw consistent growth month by month until January 2021, which was, by chance, the month when the stakes were at their highest, as players spent $ 326, 9 million in sports betting.
Bets fell in February to $ 266.5 million, but rebounded in March to $ 301.0 million, while the first figures published by the Colorado Games Division show a value of $ 245.3 million for April.
Colorado betting approval
On May 1, 2020, Colorado residents in the United States were permitted by law to bet on sporting events after the Colorado Limited Gaming Control Commission approved nine rules and licenses for Brass Ass, Double casinos Eagle, McGills and Midnight Rose in Cripple Creek, the Dostal Alley Casino in Central City and the Monarch and Saratoga casinos in Black Hawk.
Voters approved the proposition in the November 5, 2019 election, by 43,033 votes, out of more than 1.5 million votes, to legalize sports in the state. Sports betting operators in casinos needed to obtain licenses to operate within the casinos and offer online bets under the casino brand.
The rules have banned betting by people under the age of 21, bettors outside Colorado and players, coaches, referees or others at events in which they are participating.
