Press Releases
PlayColorado.com: Innovation pays off with $1.2 billion first year for state’s sportsbooks
Colorado sportsbooks closed 2020 with yet another record month that made the Centennial State the sixth to surpass $1 billion in wagers for a year, a significant accomplishment considering the industry launched in May with no major U.S. sports in action, according to PlayColorado, which provides news and analysis of the state’s gaming industry.
“Colorado’s launch in the heart of a pandemic has, perhaps inadvertently, spawned what could be the most innovative market in the country,” said Ian St. Clair, analyst for PlayColorado.com. “It’s not just that table tennis remains a popular draw in the state, even months after the return of major U.S. sports. It’s also the way operators are using unique betting markets to help connect with customers. The unusual recipe has unquestionably been a success.”
Colorado’s online and retail sportsbooks tallied their eighth consecutive month of record wagering with $284.6 million in December, according to data released Monday by the Colorado Department of Revenue’s Division of Gaming. That was up 23.1% from the previous record of $231.2 million set in November.
Gross gaming revenue fell just short of a state record in December, hitting $17.2 million. That was down from the high of $18.4 million in gross gaming revenue set in November. Meanwhile, net sports betting proceeds fell to $5.7 million, down from $9 million in November. Sports betting produced $531,490 in state taxes in December.
For all of 2020, Colorado’s retail and online sportsbooks produced:
- $1.2 billion in wagers, of which $1.17 billion were made online
- $75.8 million in gross gaming revenue.
- $28.3 million in net betting proceeds
- $3 million in state taxes, including $2.2 million in the last three months.
“After a slow start as sportsbooks ramped up, the last three months prove that sports betting will be a reliable revenue generator for the state,” said Jessica Welman, analyst for PlayColorado.com. “Revenue ebbs and flows in every sports betting market, typically peaking at the height of the football season. In that way, Colorado’s pattern is on par with what we see most everywhere in the U.S.”
With heavy action in December on pro football ($88.2 million), pro basketball ($42.9 million), and college basketball ($35.2 million), Colorado will likely place sixth in the U.S., behind only New Jersey, presumably Nevada and Illinois, Pennsylvania, and Indiana.
But the Centennial State did not take a conventional route to become one of the largest U.S. markets. Table tennis has generated $63.5 million in bets this year, including $11 million in December. Only football, baseball and basketball have generated more.
And sportsbooks have been creative in drumming up interest. FanDuel offered a promotion in December in which it shifted the line 1 point in the University of Colorado’s favor for every 500 fans who placed a bet on the Buffaloes. And sportsbooks have increasingly offered unique proposition bets, like where star quarterback Deshaun Watson could eventually land.
“Colorado’s books are offering bets that are simply not available in other states,” Welman said. “There are myriad reasons why, but one of them is that table tennis has been so lucrative that state regulators and sportsbooks themselves have been inspired to take chances on more unconventional offerings.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayColorado.com, PlayIndiana.com, and PlayNJ.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
Latest News
21VIRAL ADDS BITBLOX CRYPTO PREDICTION GAMES
21VIRAL has confirmed the integration of Bitblox’s unique crypto-price-based games into its platform. This distribution deal allows 21VIRAL access to popular games such as “3 in a Row,” “Up or Down?” and “Up or Down? Turbo.”
In these prediction games, players can guess whether the price of Bitcoin will rise or fall. The timing is particularly favourable, as the recent bull run in cryptocurrencies and heightened mainstream awareness following the US presidential election have contributed to their popularity.
Christoph Härtel, CEO of 21VIRAL, stated, “We are excited to onboard Bitblox Games to our GameConnector platform. These unique games, based on the crypto market, are highly entertaining and engaging, providing our operator partners with an innovative way to attract and retain players across Latin America.”
Brandt Page, CEO of Bitblox Games, added, “Working with the 21VIRAL team has been a pleasure, from our initial discussions to the contract exchange. The fast integration took less than four weeks, which is a significant advantage for any game studio like ours. Speed to market is crucial for optimal distribution of our crypto-prediction games.”
“The recent developments in the US have led to a surge in the crypto market, increasing the demand for our games within the iGaming ecosystem. As awareness of cryptocurrencies continues to grow in mainstream media, we look forward to collaborating with 21VIRAL and expanding our distribution in the Latin American market”.
Financial reports
Arizona Department of Gaming Releases September Sports Betting Figures
Bettors in Arizona wagered approximately $732 million on sports in September of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 20% increase when compared to September of 2023.
The state collected approximately $3.96 million in privilege fees in the month. You can view the full September report on the ADG website: LINK.
Latest News
Play’n GO announces partnership with US operator Stardust Casino
Play’n GO content now live with Boyd Interactive-owned brand Stardust in New Jersey and Pennsylvania
Play’n GO, the world’s leading casino entertainment provider, has today announced a new US operator partnership with leading brand Stardust Casino.
Stardust Casino, owned by Boyd Interactive, will now host Play’n GO content in New Jersey and Pennsylvania, meaning Stardust Casino players in these states will now have access to classic Play’n GO titles such as Piggy Blitz, Fire Joker, and Colt Lightning.
Play’n GO entered New Jersey in September 2022, and entered Pennsylvania earlier this year, making a total of five states where it is licensed as a games provider.
Magnus Olsson, Chief Commercial Officer at Play’n GO, commented, “It’s great to join forces with Stardust Casino in New Jersey and Pennsylvania, two of our most important markets globally, not just in the US. The Stardust Casino brand goes back decades in the gaming landscape of the United States, and the introduction of our games to their platform is an exciting prospect for both businesses.
“Play’n GO is the world’s leading casino entertainment provider. We set the industry standard for game content and innovation. This partnership is another significant milestone on our journey in the US, and our focus now turns to unlocking the full potential of this partnership for both Play’n GO and Stardust Casino.”
Alexander Angelo, CRM Director, Stardust Casino, added “We’re equally enthusiastic to welcome Play’n GO to the Stardust Casino family, and we’re excited to introduce our players in Pennsylvania and New Jersey to some classic Play’n GO games. We’re determined to offer our players the best online casino gaming experience possible, so adding Play’n GO’s games to our portfolio of over 200 online games was a no-brainer. We’re looking forward to many years of success together.”
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