For Immediate Release
Contact: Suzanne Karrer
LAKEWOOD, Monday, May 10, 2021– This month marks the first anniversary of legalized sports betting in Colorado, and initial figures show that a total of over $2.3 billion wagers were placed in the first year. The Colorado Division of Gaming released initial, unaudited figures for the first year of the new legalized sports betting industry, showing that the total wagers between May 1, 2020, and April 30, 2021, totaled $2,325,477,052 (unaudited), with the Gross Gaming Revenues totaling $148,103,448. The Net Sports Betting Proceeds coming in at $65,962,159.
Colorado Department of Revenue Executive Director Mark Ferrandino explained, “Launching the program in the midst of uncertainty, the Division of Gaming credits the success of the first year to the pragmatic and thoughtful enabling legislation, the partnerships established with industry stakeholders, the open competitive market created through the rules and regulations, and the commitment of the division’s staff and partners to get it right for Colorado.”
“The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado,” said Dan Hartman, Division of Gaming Director. “Looking back on a year ago, I don’t believe any of us expected to be where we are with our numbers and our operations. Colorado is setting the benchmark for what a healthy, regulated legalized sports betting market can look like in the United States, and we will continue to be known for our regulatory leadership.”
On the anniversary of legalization, the Division has published a digital press kit providing data, reports, and resources for members of the media to share the success story of sports betting and the benefit to all Coloradans. The new resource center is found on the division’s website at sbg.colorado.gov/sports-betting-digital-press-kit.
On November 6, 2019, Colorado voters passed Proposition DD, establishing Colorado as one of many states across the country to allow people to place legal bets on sporting events since the Supreme Court ruling struck down a law that banned sports betting in most U.S. states. With the passage of Proposition DD and the Colorado General Assembly's legislative bill in May 2019, the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming became the statutory authority over the legalized sports betting regulation in Colorado. Legalized, regulated sports betting began in Colorado on May 1, 2020.
The Colorado Department of Revenue’s Division of Gaming ensures honesty and integrity in the Colorado gaming industry.
The Colorado Department of Revenue works to be a trusted partner to every Coloradan to help them navigate the complexities of government so they can thrive.