Sports betting in Colorado providing financial relief for Cripple Creek casinos
COLORADO SPRINGS, Colo. (KRDO) -- In the second legalized month of sports betting, the Colorado Department of Revenue reports strong numbers for wagers and taxes collected, demonstrating a promising landscape for the industry in Colorado.
In total, the amount wagered in Colorado for the second month of legalized sports betting totaled $38,136,949.16. That's an increase of 49% over the total amount wagered in May 2020. The total taxes collected from Net Sports Betting Proceeds was more than $200,000.
Table tennis earned the top spot for total wagers at $9,148,983 wagered in June. Soccer and golf followed, respectively, rounding out the top three wagered sports.
For casinos in Cripple Creek, legalized sports betting could provide some necessary financial relief for the city.
Around 85% of sports betting occurs online, which you can place from inside some casinos. Wildwood Casino created Cripple Creek's first sportsbook that takes in-person bets from customers inside Woody's Restaurant and Bar.
Wildwood Casino's General Manager, Matt Andrighetti, says "We took an aggressive stance toward growth in our market to where we said, this is something we want to bring in and we want to do and it’s gotten a really positive response so far."
With a soft opening July 15th, the dedicated sports-betting site features 21 brand new televisions and six self-service kiosks, for now, available 24 hours a day for wagers.
Andrighetti says about one-third of their betters come from Denver and the surrounding areas, and that while it's too soon to know the exact revenue since their soft-open July 15th, the introduction of sports betting is already proving fruitful for the economy.
Bronco Billy's and Century Casinos also offer online betting. Legalized, regulated sports betting began in Colorado on May 1, 2020.
