The Colorado sportsbook business sector is now free to operate in the state. It becomes the 18th state in the U.S. to legalize sports betting. Once sports return after the coronavirus pandemic, residents can wager on the Rockies, Avalanche, Broncos, and the Nuggets.
According to U.S. political news reports, Colorado could handle up to $2 billion of bets in its first full year of operation. Also, the state would earn around $12 million in tax revenue. The law allows players to bet on sports online. That means they don’t need to go to a casino to place their wagers on sports.
Despite the coronavirus health crisis, FanDuel, BetRivers, BetMGM, and DraftKings will open their sportsbooks on Friday. Each online sportsbook has a partner brick-and-mortar casino.
Based on pay per head reviews, 13 more firms are wanting to open a sportsbook in the state. One of them is William Hill, which has sportsbooks in New Jersey and Nevada.
Colorado Sportsbook Business
There’s not much to celebrate during the launch of the sportsbook in Colorado. Also, there are few betting options due to the coronavirus outbreak. Some live events to expect during the launch include a UFC match, Belarusian soccer, table tennis, and South Korean baseball.
Coronavirus pandemic has affected the sports betting industry. Nevada sportsbooks saw a 76 percent drop in their revenue compared to the same month last year. The state’s total handles in March was only $141.2 million, which was the smallest handle of Nevada since 1993.
Despite the decline of sports betting during the pandemic, it is the right time to learn how to be a bookie. President Trump is pushing for the start of sports leagues. Also, Asian pro leagues have scheduled their return to action.
Missouri failed to pass sports betting law because of the coronavirus outbreak. Health issues are the top priority of the state now. As a result, residents of Missouri need to wait until next year to bet on sports legally in the state.