Press Releases
PlayColorado.com: Sportsbooks shatter state’s handle record with full month of football
ettors poured a record $408 million into Colorado’s online and retail sportsbooks in September, as a hot start by the Denver Broncos and a full month of college football fueled a massive spike in action. September’s results marked the 10th time in 17 months of sports betting that the state’s sportsbooks have posted a record high handle, proof that the state’s market has yet to reach its ceiling, according to PlayColorado, which tracks the state’s regulated sports betting market.
“It is no surprise that a new monthly record would come given the Broncos start, overall enthusiasm for the NFL’s return, influx of new online apps, and the number of games played by Colorado, Colorado State and Air Force,” said Ian St. Clair, analyst for PlayColorado.com. “Maybe more remarkably, though, is just how short-lived this record will likely be. This will be a very lucrative fall for the state’s sportsbooks.”
Online and retail sportsbooks in Colorado combined to take in $408.3 million in wagers in August, which included $402.8 million in online wagering, according to data released Friday by the Colorado Division of Gaming. September’s volume was up 96.6% from $207.7 million in September 2020 and up 92.7% from $211.9 million in August. The previous high came in January when sportsbooks took in $326.9 million in wagers.
Gross gaming revenue was nearly a new high, too, with $22.7 million in September. That is up 443.9% from $4.2 million in September 2020, and was just shy of the previous high of $23.1 million set in January. $19.8 million in promotional bets, or “free bets,” whittled net sports betting proceeds to $1.8 million, which yielded $483,048 in state taxes.
Pro football drew a whopping $125.8 million in wagers, a wave of action compared with the $13.6 million that were bet on the sport in August. College football took 46.9 million. College and pro football took in more than baseball ($68.7 million), pro basketball ($16.3 million), tennis ($16.3 million), soccer ($13.0 million), and table tennis ($11.1 million) combined.
A 3-0 start by the Broncos helped energize the state’s bettors in September. But with five weekends of football in October, and the opening of the NBA and NHL seasons, there will be an incredible amount of betting inventory.
“The outlook only gets rosier in the coming months with a busy schedule that includes the return of the Nuggets and Avalanche,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayColorado.com. “If the Broncos can remain relevant the industry will likely make another huge jump forward.”
An influx of new operators continues to push the market, too. Not only are brands such as Barstool and Sports Illustrated Sportsbook investing in growing their customer base. They are also increasing competition for more established operators like DraftKings and FanDuel.
Such investments will continue to grow the overall market.
“Another record month is a reminder that Colorado’s market is still relatively young and growing,” said St. Clair. “In fact, it still could be a couple years before we reach a true level of maturity. That means we can expect the wild ride to continue for the foreseeable future.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.
Offers Atlantic Lottery greater self-sufficiency when collaborating with IWG
Instant Win Gaming (IWG), a leading supplier of eInstant games to NASPL and WLA-member lotteries announced today a new, five-year direct contract to supply its InstantRGS (remote game server) and its InstantGames to Atlantic Lottery.
Since 2017, IWG has supplied eInstants to Atlantic Lottery through a subcontract with their iLottery platform provider. However, following substantial growth of their eInstant category, Atlantic Lottery elected to contract directly with IWG.
With a direct contract in place, Atlantic Lottery is assured greater self-sufficiency when collaborating with IWG on game development and innovation. Further, a direct relationship streamlines roadmap planning and deliveries including day-to-day game operations and support.
A direct contract is the primary way that lotteries source games from IWG.
Rhydian Fisher, IWG CEO, said: “Atlantic Lottery has been a valued partner of IWG for many years, and this new agreement will streamline the way in which we deliver and support our eInstants. AL’s decision to move to a direct contract is consistent with how the vast majority IWG’s lottery partners contract with their critical suppliers such as IWG.”
Robert Lalonde, Director of iGaming Product at Atlantic Lottery, said: “It is imperative to our business planning at Atlantic Lottery that we establish direct contracts with our primary eInstant suppliers. IWG has been a trusted supplier to us since 2017, and we’re excited to be taking our partnership forward with this new agreement.”
Company Adds Bettor Capital as a Strategic Investor to Expand Enteractive’s Industry Leading Reactivation Services in the High Growth North American Market
Enteractive, the leader in player conversion and reactivation services to online sportsbook and casino operators, has welcomed Bettor Capital, the investment firm focused on backing best-in-class technology suppliers to the real-money gambling industry, as an investment partner, boosting opportunities for continued rapid growth within the U.S. market.
With Bettor Capital’s established expertise in supporting growth in the global online gambling sector, Enteractive looks forward to accelerating business development efforts in key growth markets such as the U.S. and Canada. The partnership is described by the Company as a limited/non-controlling investment that supports Enteractive’s existing global strategy.
“We’re thrilled to bring Bettor Capital on board as a strategic investor as we continue to expand within the North American market”, said Enteractive’s CEO Mikael Hansson. “We have built a strong relationship with the Bettor Capital team and believe that they will bring significant value alongside our existing investors”.
“We are excited to partner with Mikael and the Enteractive team to expand their global business. As online gambling markets, such as the U.S., mature, operators are increasingly focused on player retention and reactivation alongside new customer acquisition. Enteractive’s proprietary software powers real one-to-one conversations with players that delivers demonstrable and meaningful ROI for operators as they re-engage customers that may be considered to have churned; with a responsible gambling approach baked into this model, this is a clear win-win for the industry. As a result, Enteractive has established a global blue chip customer base and market leadership position that has the Company primed for continued growth, especially in large and high growth markets such as North America.” said Dave VanEgmond, Managing Partner at Bettor Capital.
Since its foundation in 2008, Enteractive has established itself as the global leader in online sportsbook and casino player conversion and reactivation. The Company’s proprietary technology platform, the (Re)Activation Cloud, allows Enteractive’s agents to engage with online sportsbook and casino players on a one-to-one basis, driving player retention and reactivation at scale for its operator customers. The Company has dozens of operator clients globally and has established a strong presence in the North American market since opening its first U.S. office in 2022, working with some of the dominating players including Rush Street Interactive, Penn Entertainment, Playstar and Resorts Digital Gaming.
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