A new survey conducted by ColoradoSharp.com indicates that Colorado bettors are ready to return to regulated sports wagering at casino sportsbooks as they reopen in the wake of the COVID-19 lockdown.
Since launching on May 1, the state has generated $25.5m in gross, unaudited sports betting revenue and it transpires that 75% of respondents said they would return to casinos “as soon as they’re open.” All the signs, said ColoradoSharp, point to a statewide boom for betting revenue when full-fledged gambling returns to The Centennial State.
Chris Nesi, Managing Editor, said: “Colorado’s month-one results cement the state as a leader in the US gambling arena. $25m in revenue is impressive on its own, and it’s even more impressive when you consider how sparse the gambling options are during a globally trying time.
“This first month showcases the strength of the Colorado gaming industry, and I think we’ll continue to see impressive numbers from the state in the future.”
The Covid-19 pandemic hit Colorado hard. Related closures resulted in revenue loss nearing $100m through April 30 alone. However, amid a challenging time for the state, Colorado’s successful first month of sports betting generated more than $25m.
Compared to Indiana’s launch month, the number is particularly impressive: Indiana earned $35m in October 2019 when it debuted sports betting absent any casino closures.
Colorado’s success in light of league cancellations and virtually no casino activity bodes well for the future of sports betting in the state. The first month’s $25m signals a general desire for betting in Colorado, a conclusion supported by ColoradoSharp.com’s recent casino reopening survey.
In the survey, three-quarters of participants said they would return to casinos as soon as they reopen, even though the state has no current timeline for reopening land-based casinos or sportsbooks.
It also showcased Colorado’s excitement for gambling’s return, though not without some caution. 75% of survey takers intend to wear a mask when visiting a casino, and 50% said it is “very important” that casinos take social distancing safety measures upon reopening.