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PlayColorado.com: Betting volume grows ahead of fall surge
Colorado’s sportsbooks used interest in baseball, early-season college football, and NFL futures betting to fuel the first month-over-month gain in betting volume since May. The boost to nearly $212 million in wagering in August also made Colorado just the sixth state to haul in more than $3 billion in lifetime bets, according to PlayColorado, which tracks the state’s regulated sports betting market.
“It’s encouraging to see a bump ahead of the most important four-month stretch of the year,” said Ian St. Clair, analyst for PlayColorado.com. “A mere taste of football in August showed its importance to sportsbooks. But what we saw last month is just a precursor for what we expect for the final four months of the year, which should bring an onslaught of fresh records.”
Colorado’s online and retail sportsbooks accepted $211.9 million in wagers in August, $208.3 million of which came through online operators, according to data released Monday by the Colorado Division of Gaming. Year-over-year, betting volume in August was up 64.7% from $128.6 million in August 2020 and up 16.9% from $181.3 million in July.
Gross gaming revenue hit $15.2 million in August. That is up 102.5% from $7.5 million in August 2020, though down 2.7% from $15.7 million in July. After promotional credits, net sports betting proceeds in August landed at $7.1 million, which yielded $726,365 in tax revenue.
August’s results brought a slew of fresh milestones, including surpassing $3 billion in lifetime wagering. Since launching in May 2020, Colorado’s sportsbooks have generated:
$3.2 billion in wagering, including $2.0 billion so far in 2021
$213.1 million in gross gaming revenue, including $137.3 million in 2021
$117.4 million in free bets
$95.7 million in taxable revenue
$10.2 million in state taxes
“Colorado is remarkably consistent, and continues to outperform the size of its population base,” said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayColorado.com. “With even a decent football season, sportsbooks will reach $3 billion in wagers and $200 million in revenue for the year. Those would be impressive annual totals for a state that is still maturing as a sports betting market.”
With a flurry of fresh launches ahead of football season, including well-known brands like Barstool and the Sports Illustrated Sportsbook, Colorado is now home to more online operators than any other state with 26.
One of the intriguing aspects of Colorado’s market for operators is the wide range of sporting interests of its bettors. In August, baseball was again the most popular sport to bet on with $69.6 million in bets in August, up from $59.9 million in July. Tennis ($13.5 million), soccer ($11.5 million), basketball ($10.6 million), and table tennis ($8.1 million) all drew significant wagering in August, too.
But like every U.S. market, football is still king in Colorado. With a light inventory of games to bet on, including three Broncos preseason games, pro football drew $13.6 million in wagering, up from just $586,203 in July. College football attracted an additional $2.6 million. And the growth over the next four months will be substantial. In 2020, a year marred by the shutdown of major sports for months, 60.2% of the money wagered legally in the U.S. was placed from September through December. In 2019, 50.8% of all legal wagers were made during the last four months of the year.
“The difference between a great football season and a merely very good fall for sportsbooks may come down to how local teams fare,” said St. Clair. “If there is a concern for operators it is that Colorado, Colorado State, and Air Force each had significant missteps to open the season, which could dampen some enthusiasm. But the Broncos’ hot start will likely more than make up for that. If the Broncos can continue to play well, it could really drive sports betting to new heights.”
For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/revenue.
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SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services
SCCG Management, a leading global advisory firm in the gaming and sports betting industry, is proud to announce its engagement by the Osage Nation Gaming Enterprise (ONGE) to assist in developing innovative, robust, player-centric solutions for sportsbook operations, on-line/mobile social casino, and Class II mobile on-premise gaming, designed to enhance the patron experience with diverse content, and drive operational efficiency.
The ONGE, operators of seven gaming and hospitality facilities in Oklahoma, is known for providing an intimate, guest-focused gaming, service, and entertainment experience. This collaboration marks a significant step in integrating advanced technology and operational expertise to deliver innovative solutions for the evolving interactive gaming landscape.
SCCG Managed Services (SCCGMS) specializes in turnkey solutions for tribal operators to develop, optimize, and manage sports betting and interactive gaming offerings. For the ONGE, , SCCGMS will assist in sourcing and implementing customized products and services tailored to their operations, enabling patrons to enjoy casino-style games on their mobile devices while within designated areas of the casino properties. This service ensures compliance with regulatory standards while delivering a seamless and convenient gaming experience.
âOur mission is to ensure operators like the Osage Nation Gaming Enterprise can fully harness the potential of their gaming operations,â said Stephen Crystal, Founder and CEO of SCCG Management. âThis partnership is about bringing cutting-edge technology and operational expertise to elevate interactive gaming experiences. We are honored to collaborate with the ONGE, a leader in tribal gaming, to pave the way for enhanced content, responsible gaming, and innovation.â
âOn behalf of Osage Casinos, we are very pleased to announce our engagement of SCCG to assist us with developing these new products and services for our guests,â offered Kimberly Pearson, CEO of Osage Gaming.
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 worldâs 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 RockAppâs 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 RockAppâs 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. Weâre excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”
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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