March Sports Betting Handle in Colorado Increases by 16%
March Sports Betting Handle in Colorado Increases by 16%
The state of Colorado has seen a significant increase in sports betting handle in March, with a 16% increase compared to the previous month. This is a positive sign for the sports betting industry in the state, which has been growing steadily since it was legalized in May 2020.
According to the Colorado Division of Gaming, the total sports betting handle for March was $301 million, up from $259 million in February. This marks the third consecutive month of growth for the industry in Colorado, and it is expected to continue to grow as more people become interested in sports betting.
One of the main reasons for the increase in sports betting handle is the popularity of March Madness, which is one of the biggest sporting events in the United States. Many people place bets on the NCAA basketball tournament, which takes place in March and April each year. This year’s tournament was particularly exciting, with several upsets and close games that kept fans on the edge of their seats.
Another factor that has contributed to the growth of sports betting in Colorado is the increasing number of online sportsbooks that are available to residents. Since sports betting was legalized in Colorado, several major sportsbooks have entered the market, including DraftKings, FanDuel, and BetMGM. These companies offer a wide range of betting options and promotions, making it easy for people to place bets on their favorite sports teams and events.
The legalization of sports betting has also had a positive impact on the state’s economy. In addition to generating revenue for the state through taxes and licensing fees, sports betting has created jobs and boosted tourism. Many people travel to Colorado to place bets on sporting events, which helps to support local businesses and attractions.
Overall, the increase in sports betting handle in Colorado is a positive sign for the industry and for the state as a whole. As more people become interested in sports betting and more online sportsbooks enter the market, it is likely that the industry will continue to grow and contribute to the state’s economy.