Sports betting is picking up everywhere in the US with $231 million clocked in as a monthly record in Colorado for November, beating October’s results.
The Colorado Department of Revenue's Division of Gaming has reported that the latest number for November has beaten previous sports handle, showing an upward trajectory for one of the fastest-growing sports betting states in the country.
An estimated $18.3 million has been generated in gross receipts for the state's sportsbooks, leading to $800,000 collected in tax. There have been around $4.3 million bets placed online.
In a press release, Dan Hartman, head of the CDG, said: “The positive response by Coloradans to sports betting continues to bring voter intended results that means good things to come for the beneficiaries.”
Colorado is not the only state to post a significant increase in monthly sports betting results though. Even though there have been some misfires with the start of the National Collegiate Athletic Association season, sports betting has been on an upswing across the US.
NFL and college sports have boosted results and so has table tennis from Russia and Ukraine, an exotic market that has developed itself as a fully-fledged betting option during the pandemic. Right now, Colorado places sixth in terms of sports betting handle behind New Jersey, Nevada, Pennsylvania, Illinois and Indiana.
The state is only going to expand its sports betting offer, which means that we could one day see blockchain and crypto sports betting options. Operators that offer such options include Cloudbet, Sportsbet.io, and FortuneJack, to name a few.
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