Colorado’s Smooth Sailing into Sports Betting Amidst the Pandemic
Colorado’s sports betting market has experienced rapid growth since its launch in May 2020, reaching a record $6.3 billion in total wagers during the 2024-25 fiscal year, a 130% increase compared to its first full year of betting, with tax revenues earmarked specifically for water conservation projects in the state.
As states across the country rushed to open their sports betting markets this spring, Colorado managed to navigate through the storm of the coronavirus pandemic with ease. The Centennial State officially launched its sports betting operations on May 1, offering a fully online and mobile betting experience from the get-go. This strategic move not only set Colorado apart from many states but also positioned it well to capitalize on the shifting landscape of sports betting during these unprecedented times.
With major American sports leagues on pause, Colorado’s betting operators quickly adapted by expanding their international wagering options. This shift came just in time for the Ultimate Fighting Championship (UFC) to resume, providing a much-needed boost to domestic betting activity.
The Early Success of Colorado Sports Betting
The introduction of sports betting in Colorado has been met with enthusiasm from both operators and bettors alike. Despite the absence of immediate revenue figures, the initial sentiment from within the state has been overwhelmingly positive. The launch saw four online providers, each linked to brick-and-mortar casinos, go live. This digital-first approach was crucial, as physical casino locations have been shuttered since March 16 due to health concerns, robbing the state’s casino industry of significant revenue.
According to Dan Hartman, director of the Colorado Division of Gaming, the early days of legal sports betting have been deemed a success by both the division and the operators involved. This sentiment is echoed by the operators themselves, with casinos like BetMGM, BetRivers, DraftKings, and FanDuel all going live on day one. The state is also looking forward to welcoming additional online providers to further enrich Colorado’s sports betting landscape.
UFC’s Impact and the Future of Sports Betting in Colorado
The recent UFC 249 event, held without spectators in Jacksonville, Florida, set the stage for what future sports betting could look like in Colorado and beyond. BetRivers reported that the event exceeded their expectations in Colorado and other markets, with betting action surging past that of any regular season NFL game last season. This remarkable interest in UFC betting even surpassed Conor McGregor’s return to the octagon in January by 33 percent, showcasing the potential for growth and diversity in Colorado’s sports betting offerings.
The UFC’s success on betting platforms signals a new era for sports wagering, with professional table tennis, the Korean Baseball Organization, and Belarus’ Premier League also drawing significant attention. This eclectic mix of sports betting options demonstrates the adaptability of Colorado’s market and the broad appeal of sports betting to a diverse audience.
Despite the dominance of UFC and other international sports, the NFL remains a key focus for Colorado bettors. Futures bets on the Denver Broncos making the playoffs have been particularly popular, highlighting the enduring appeal of hometown teams and traditional American sports. This blend of international and domestic betting options suggests a bright future for the Colorado sports betting market as it continues to evolve.
With a favorable tax rate for operators and the gradual return of U.S. sports, Colorado is poised for rapid growth in the sports betting sector. The state’s early success and strategic approach to launching during a challenging period have set a strong foundation for what promises to be an exciting new chapter in Colorado sports betting.