Colorado Online Sports Wagers Dwarf Retail Action

Colorado Online Sports Wagers Dwarf Retail Action

Legal CO books hold roughly 4.5% in the month of February 2022.

Colorado online sportsbooks saw a huge spike in action related to professional and NCAA basketball during the month of February 2022, according to recent figures published by the CO Department of Revenue.

Professional basketball garnered a total of $155.6 million in wagers for the month, with NCAA basketball coming in second place with $68.2 million in total bets. Pro football was the third-largest market for Colorado sports bettors in February (thanks to Super Bowl LVI), with $31.4 million in state wagers recorded, followed by ice hockey ($24.1 million) and soccer ($18.9 million).

In all, Colorado sports bettors placed $440.5 million in total bets during the month. Almost all of those wagers ($434.9 million) were placed online. Colorado books held 4.45% of all wagers, for a profit of $19.6 million before taxes. 

The CO Department of Revenue collected $314,731 from legal sports wagering proceeds in February, but practically all of the sports betting revenue during the month was earned via legal online wagers.

Colorado sportsbooks are tied to brick and mortar casinos within the state, namely in Black Hawk, Cripple Creek, and Central City – plus there exist authorized “kiosks” where customers can place real money bets on sports. However, the retail sports betting landscape in Colorado has yet to take off.

Denver Nuggets Enter NBA Playoffs As #6 Seed

The Denver Nuggets ended their NBA regular season with a record of 48-34, good enough for the #6 seed in the Western Conference. 

The Nuggets will come into Game 1 at the Chase Center against the #3 seed Golden State Warriors (53-29) as a significant underdog and will be facing a team that ended this year’s regular season on a five-game winning streak. 

Game 1 is scheduled for this Saturday, April 16th, at the Chase Center. Games #3 and #4 of the best-of-seven first-round playoff series will be played at Denver. 

DraftKings has the Nuggets listed at +175 to begin the week, with Golden State offered as a -215 favorite. Readers who register for a new DK Sportsbook account in Colorado through COBets will receive a promotional, free $50 initial wager as well as a 20% initial deposit bonus up to $1,000 (must be located in Colorado and at least 21 years of age to qualify).

SEE: Colorado Online Sportsbook Promo Codes, Free Bets, And Deposit Bonuses

Colorado Avalanche Striving For NHL Playoffs #1 Seed

The Colorado Avalanche currently have the best points total in the entire National Hockey League and are the hottest team in the NHL (six-game winning streak) aside from the Florida Panthers, who have won seven in a row.

With less than a dozen games remaining in the 2022 NHL regular season, the Avalanche are firmly in the “pole position” for a top seed entry representing the Western Conference in the Stanley Cup Playoffs.

Colorado Rockies Off To A Great Start

With 3 wins and only 1 loss (and after dropping their season opener against the Dodgers), the Colorado Rockies are tied for the best regular season record in Major League Baseball after the Tampa Bay Rays (3-1) were blown out by the Oakland Athletics on Monday.

Last year, the Rockies finished near the bottom of the NL West Division, but have high hopes for Venezuelan pitching ace German Marquez (who went seven complete innings to give their Rockies their first win of the season) to continue progressing his already impressive MLB career.

How To Deposit Funds Into A Legal CO Online Sports Betting Account

Colorado regulators have authorized legal online sportsbooks in the Centennial State to offer a wide variety of real money depositing and withdrawing options for customers who are at least 21 years of age and physically located in CO when placing wagers.

Consult our Colorado Sportsbooks Banking Options page for complete information on how to get started with a new account and get in on the legal real money sports betting action today!

Author: Neil Garza