Colorado Sports Betting Revenue Increases Dramatically

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00:00 (upbeat music)

00:03 - From the East Coast to the mile high state of Colorado,

00:08 incredible numbers coming in there as well.

00:10 I guess I'm surprised Jim,

00:11 that a billion dollars in revenue,

00:15 they become the 10th state does Colorado to eclipse that.

00:19 Probably a lot of folks did not see that coming.

00:21 - Yeah, they've kind of been, you know,

00:25 a bit up and down lately.

00:28 Overall, their handle has been trending quite well

00:31 and the sports books have done fairly well,

00:34 obviously with a billion dollars in lifetime handle

00:38 since launching there.

00:41 Like you said, to 10th state to eclipse that,

00:44 that billion dollar in lifetime revenue mark,

00:47 which is certainly a positive.

00:51 Handle was up as well in October

00:55 for the Colorado sports books, $555 million,

01:00 just about in October,

01:02 second highest handle amount ever for Colorado.

01:07 One interesting note too, that kind of stuck out to me

01:10 was college football.

01:12 As you know, Craig Deon Sanders was quite popular

01:17 throughout the summer and into September

01:20 as he led the head coaching duties

01:24 at the University of Colorado there.

01:26 And they were the talk of the town, right?

01:28 I think we saw a lot of sports books saying that,

01:33 you know, more bets were coming in on Colorado

01:35 than any other college football program to start the season.

01:40 And that seemed to level off in October

01:45 once, as we all expected, they started to lose some games

01:48 and that, you know, sort of, you know,

01:51 shiny new object, if you will,

01:53 started to dull a little bit.

01:55 So college football betting

01:57 hit an all time high in September

01:59 and it was back down to more normal levels in October.

02:04 Football, NFL football,

02:07 obviously the most popular thing there.

02:10 But as we've seen in years past, in 2022 actually,

02:15 basketball betting was far more popular

02:20 than football betting over the course

02:21 of those 12 months in Colorado.

02:24 And, you know, like we've spoken a number of times

02:27 in the past, Craig, usually that can be seen

02:30 when you have a quality local team

02:33 like they do in the Denver Nuggets

02:35 and compare that or contrast that even with

02:39 the lack of success that the Denver Broncos had

02:43 on the football side last year,

02:45 you know, might speak to that a little bit.

02:48 But, you know, we'll see how the basketball betting trends

02:51 here coming up as, you know, we kind of get into the meat

02:55 of the NBA season.

02:57 But, you know, again, Colorado solid month in October,

03:02 $555 million nearly in handle,

03:05 second highest month ever.

03:07 And we did see that college football betting

03:10 dropped back to more normal levels in October.

03:14 (upbeat music)

03:17 (bell ringing)

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