Another state across the country reports a lower betting handle than the previous month. Consistent with market trends, the Colorado sportsbook industry saw a decrease in handle. Sportsbooks reported a 22.4% decrease in handle in April from March. March’s total sports betting handle was at $505.6 million, while April’s total sports betting handle is at $392.3 million. But as seen by experts in Bwager, this is a mere trend, and is quite normal for the US sports betting industry.
If you manage your own sportsbook pay per head operation, then you will see that the numbers are pretty consistent with the sports calendar, as there are far fewer games being held across the country. Aside from the calendar, we can also take a look at last year’s numbers to see if there has been an improvement on betting from the same month last year.
Colorado Sportsbook Industry Stays Strong
Looking at the year over year numbers, April 2021 has $301 million in wagers. This gives us a huge bump of 60.5% in a year. Meanwhile, gross gaming revenue in Colorado is at $22.6 million in April. This gives sportsbooks a total win percentage of 5.75%, and net sports betting revenue is at $11.5 million. Again, for pay per head bookie operators, this is good news.
We are, after all, in a month where bettors had no college sports to bet on, particularly football and basketball. And speaking of football, the NFL will not be starting until September. April also showed a significant decrease in the number of basketball games as the NBA is at its postseason already. Basketball was the biggest sport people in Colorado bet on, but we also have baseball doing well. Hockey and soccer, as well as other sports such as golf and mixed martial arts also generated a few millions in betting handle combined.