Colorado expects sports betting take off
The state of Colorado expects its newly licensed sports betting market to finally take off as Major League Baseball returns next month.
US.- Colorado expects its newly licensed sports betting market to take off after it was announced that Major League Baseball will return, albeit without fans in the stands, from July 23 or 24.
Colorado’s licensed sports betting market opened in May, when most major sports events were cancelled due to the coronavirus pandemic.
Marcus Rohrbaugh, director of gaming at the only in-person sports betting parlor in the state, the Saratoga Casino in Black Hawk, said to CBS: “We’re excited about baseball coming back, and we’re hearing basketball and hockey are also on their way back, so we’re excited to actually get some action going”.
Online sites have been offering big incentives such as US$500 and US$1,000 credits to fuel competition.
When voters approved sports betting in Colorado, it was estimated it would bring in US$30-40 million in annual tax revenue to the state, mainly to be destined to water projects.
It seems unlikely now that it will bring in that total in its debut year owing to two months with few sporting events, but even the first month was not a complete wash out.
The Colorado Division of Gaming reported that even without major sports, a handle of US$25 million was wagered in May thanks to online betting offering a variety of less traditional sports such as UFC, Bundesliga soccer, Korean baseball and table tennis.
