As what most pay per head operators know, there are months when sports betting in general is slow. The slow, or low season depends on which betting market we are talking about. But in the case of the US, summer brings in great warm weather, and a slow betting season. And we are not just talking about small sportsbooks. Even the biggest betting markets in the country are also seeing dips in sports betting. For now, we’ll talk about how the Colorado sports betting market drops in July.
Bookie PPH operators look at the summer season as the reason why there are lower numbers. With the absence of the NFL and the NBA, plus collegiate sports, there is much less to bet on. Their absence is notable since we are talking about hundreds of games each week that are normally keeping sportsbooks busy. While sports bettors still appreciate betting on the MLB, hockey, and other sports, the difference in activity is just too high.
Colorado Sports Betting Market
For Colorado, the total sports betting handle for the month is at $181,327,994. This is 21% less than June’s $229.8 million. This is still better than last year, with a 206% year-on-year increase. Colorado’s betting handle for July 2020 was only at $59,186,619. Meanwhile, the total revenue, for those who want to open a sportsbook would be interested to know, also dips slightly in July. The total revenue is at $15.65 million, down from June’s $19.73 million.
Meanwhile, the total online sports betting handle is at $179.125 million. This is 43% lower than June’s mobile handle of $227.074. Still, 99% of all wagers are done online. Baseball betting is what is saving the market, with $61 million in wagers for the MLB. Basketball betting is here, but with a $27 million handle. Soccer betting rakes in $13 million, Tennis at $12 million, the table tennis at $8 million.