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PlayColorado.com: Sportsbooks reach $300 million in March to become sixth state to reach $2 billion in lifetime betting

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PlayColorado.com: Sportsbooks reach $300 million in March to become sixth state to reach $2 billion in lifetime betting

 

March Madness helped Colorado sportsbooks take in more than $300 million in wagers, bouncing back from February’s decline to post the second-highest volume month in the state’s first year of sports betting. The month was enough to push lifetime handle in Colorado past $2 billion, becoming the sixth U.S. state to reach the milestone just 11 months after launching, according to analysts from PlayColorado, which tracks the state’s regulated online gaming and sports betting market.

“With the NCAA Tournament, a return to growth is no surprise, but it is still good to see after a bit of a relatively disappointing month,” said Ian St. Clair, analyst for PlayColorado. “Considering the circumstances Colorado launched under, at a time when major U.S. sports were dormant, the state really has been one the U.S. sports betting industry’s great success stories.”

Colorado’s online and retail sportsbooks accepted $300.1 million in bets in March, according to data released Tuesday by the Colorado Department of Revenue’s Division of Gaming. That was up 12.9% from $266.5 million in bets in February, though short of the record $326.9 million set in January. Bettors placed about $9.7 million bets per day in March, up from $9.5 million in February.

March’s bets led to $20.4 million in gross gaming revenue, nearly doubling the $10.4 million generated in February.

Eleven months after the launch of sports betting, Colorado sportsbooks have now taken in more than $2.1 billion in bets.

But as successful as Colorado’s launch of sports betting has been, the state’s tax revenue continues to lag. March’s bets yielded $10.6 million in net sports betting proceeds, after $9 million in promotional credits whittled down the month’s win. That produced $1.1 million in state taxes for the month, which was well above February’s $175,275.

Since launching, sportsbooks have injected $5.6 million into state coffers. Compare that to Indiana, Colorado’s closest competitor in terms of market size. In March alone, Indiana collected $2.5 million in state taxes on $316.7 million in bets.

“Those promotional credits have been a nagging issue that has really kept the state from realizing its full tax revenue potential,” said Jessica Welman, analyst for PlayColorado.com. “On the optimistic side, it could be just that it takes time to work through those credits from the heavy promotion in the state industry’s early days. But if tax revenue remains lackluster, the issue may need to be fixed.”

With the bulk of the NCAA Tournament in March, which included two Colorado games, college basketball betting jumped to $71 million in bets for the month, which was up from $39.6 million in February. But with the Denver Nuggets surging in March and Nikola Jokic MVP betting drawing significant interest, pro basketball remained the most popular bet with $106.9 million in bets.

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The Stanley Cup favorite Colorado Avalanche have helped spike interest in hockey, too, growing to $13.8 million in March from $9.5 million in February, topping tennis ($10.9 million), soccer ($8.9 million) and even table tennis ($8.8 million), a uniquely Colorado favorite.

Of course, Colorado remains among the most unusual betting landscapes in the U.S. Not only does table tennis receive an atypical amount of interest, the summer rodeo season could also help drive some betting interest in the state.

“Most markets are locally driven, so when local teams do well, betting interest rises. But nowhere is that more pronounced than in Colorado,” St. Clair said. “Without a significant population from a neighboring state to draw bets from, Colorado’s market is more locally driven than most. But operators in the state continue to be innovative in the ways that they appeal to Colorado’s bettors.”

For more analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.

Compliance Updates

Licenses received: RockApp strengthens its position in the US iGaming market

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Licenses received: RockApp strengthens its position in the US iGaming market

 

RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the world’s largest and fastest-growing markets.

These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.

This milestone is part of RockApp’s broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockApp’s dedication to innovation, strategic planning, and delivering exceptional value to its clients.

“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. We’re excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”

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Compliance Updates

Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

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Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

 

Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.

Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”

Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.

“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”

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1/ST and Goodwood Racecourse announce Group 1 pathways between the United Kingdom and North America

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1/ST, North America’s preeminent Thoroughbred racing and pari-mutuel wagering company, and Goodwood Racecourse, one of the United Kingdom’s leading racecourses, today announce a new initiative that will see a reciprocal partnership between 1/ST-owned racecourses in North America and Goodwood Racecourse in the United Kingdom.

This exciting new partnership will see horses gain automatic entry following success at the Pegasus World Cup meeting at Gulfstream Park on January 25, and at Goodwood Racecourse’s world-famous five-day festival, the Qatar Goodwood Festival presented by Visit Qatar.

The Pegasus World Cup Turf winner in 2025 will be granted automatic entry to the 2025 running of the Qatar Sussex Stakes. Likewise, the victor of the 2025 Pegasus World Cup Filly and Mare Turf will gain automatic entry to the Qatar Nassau Stakes in 2025.

Additionally, the winner of this year’s £1m, Group 1 Qatar Sussex Stakes will gain automatic entry to the Pegasus World Cup Turf in 2026 and the winner of the Group 1 Qatar Nassau Stakes will gain automatic entry to the Pegasus World Cup Filly and Mare Turf in 2026.

This new partnership will create an easily accessible pathway for horses to compete both in North America and the United Kingdom and help to encourage top-tier racehorses to travel and increase international participation at both fixtures – while also bolstering elite fields for global audiences and deeper fan engagement.

Aidan Butler, President of 1/ST, 
said: “Thanks again to our friends at Goodwood Racecourse as our partnership enters its second year. We can’t wait to see how our Pegasus World Cup Turf winners fare on the other side of the pond and look forward to welcoming the victors of the Qatar Sussex Stakes and Qatar Nassau Stakes back to Gulfstream Park in late January 2026 for one of the most lucrative racedays on the East Coast.

“These reciprocal pathways mark the latest strides in 1/ST’s bid to broaden the appeal and international participation in the world’s major races. We’ve already seen such incentives reap immediate rewards when Crimson Advocate won at Royal Ascot in 2023, having punched her automatic spot via our Royal Palm juvenile series at Gulfstream Park. Now, Miami can hopefully work its magic again with the Qatar Goodwood Festival!”

Edward Arkell, Director of Racing at Goodwood Racecourse, added: “We are thrilled to announce this fantastic new initiative, and I would like to thank 1/ST for their enthusiasm and support. By pairing two of our most prestigious races with a pair of turf races at the Pegasus World Cup meeting, we are confident that we have unlocked a well-scheduled gateway.

“This partnership also highlights the importance of collaborating with the best horseracing in the World and allows us the opportunity to showcase the obvious benefits of working alongside the North American horseracing circuit.”

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