Sports Betting in the United States
November 2, 2021
In the state of Colorado, there is currently full mobile betting with multiple options and in-person wagering. It was decided that the tax revenue from mobile and retail sports betting in Colorado would go towards funding state water projects.
In 2020, the state of Colorado saw its very first online and retail bets, which proved to be just the start of a rather impressive renaissance. Colorado is now one of the most robust betting markets in the United States, boasting some huge day one big names including BetRivers, Bet MGM, FanDuel, and DraftKings. All of these have gone on to establish themselves as big names in the betting world. PointsBet, a large Australian-based betting company, later opened a North American HQ in Denver. They are tipped to become a big player in the United States wagering scene.
This all came half a year after voters in the state of Colorado narrowly approved a measure to allow the ‘regulation of sports betting through licensed casinos’ via ballot.
In September 2020, Colorado boasted more than $200 million in monthly betting sums handled across the state. It joined Indiana, New Jersey, Nevada, Pennsylvania and a number of other states in achieving this milestone.
It is expected that over 25 different sportsbooks will be live in Colorado in the near future, and it is becoming known among the most operator-friendly setups in the United States of America.
Statistics show that the state of Arkansas has handled around $3.2 billion in wagered bets from May 2020 to August 2021. In that time, they have boasted revenue of over $213 million, a hold percentage of 6.7% and taxes collected of $10.1 million.