Colorado Sports Betting Wagers Eclipse $500 Million For Third Straight Month

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Led by a strong March Madness campaign along with a lead-up to the NBA Playoffs, basketball topped all other sports betting markets in March 2022.

The Colorado Department of Revenue reported this week that legal sports betting wagers in the Centennial State reached the $500,000,000 mark for the third month in a row – while coming in second all-time for legal CO sports betting action.

For March 2022, Colorado sports bettors place roughly $505.6 million in total legal sports wagers. Due to a nearly 10% “hold” on Parlay/Combination bets, legal Colorado sportsbooks achieved a 5.58% profit off of all bets placed in the month.

As has become customary in the Colorado market and elsewhere in the legal U.S. statewide environment, online action lapped in-person sports betting many times over. Out of the $505.6 million in total March 2022 sports bets, about $500.2 million(or approximately 99%) was derived from online sports betting services.

In other words, Colorado sports bettors clearly prefer making legal sports bets from the convenience of their own devices, as opposed to visiting land-based facilities – especially due to ongoing, in-person health considerations.

Basketball and NCAA Basketball wagers (categorized differently in Colorado) attracted over $315 million in real money wagers during the month of March 2022. Parlays and combination bets were the next leading category with almost $100 million in total bets made. As mentioned above, CO sportsbooks made about a 10% profit off of the parlay/combination wagers.

In all, CO sportsbooks made a “Gross Gaming Revenue” profit of about $28.24 million in March, which resulted in $1.31 million in corresponding taxes going to the state’s coffers.

Colorado Avalanche Are The Top Seed In The NHL Western Conference

The Colorado Avalanche will represent the NHL Western Conference in the 2022 Stanley Cup Playoffs as the #1 seed, and will have home ice advantage throughout the postseason.

COLORADO AVALANCHE 2022 REGULAR SEASON: 56-19-7 (119 Points)

The Stanley Cup Playoffs begin in early May. The Avalanche are scheduled to take on their Western Conference Central Division rival Nashville Predators (thanks to the Nashville Predators’ loss to the Arizona Coyotes to end the regular season), in the first round of a best-of-seven series that begins with the first two games at Ball Arena in Denver.

Colorado Rockies Swept By Phillies, Snap Losing Streak With Win Over Reds

The Colorado Rockies started the 2022 MLB regular season with a record of 10 wins and only 5 losses… and just one game away from the best record in professional baseball.

On April 24th, the Rockies defeated the Detroit Tigers by a score of 6-2, due in large part to another stellar pitching performance by emerging MLB Fantasy Pick Chad Kuhl (2W-0L – 16.1 IP – 2 ER – 1.10 ERA).

But then the Rockies went on the road and were swept by the Philadelphia Phillies in a four game series at Citizens Bank Park… leaving them with a 10-9 record and three games out of first place in their own NL West Division.

Colorado finally broke the losing streak on Friday night when they returned to Coors Field, handling the bottom-dwelling Cincinnati Reds 10-4 in the first leg of a three-game series. The Rockies are now 11-9 on the season, and in 4th Place in the National League Central Division.

New Sports Betting Customers Invited To Try Legal Colorado Sports Betting Market

Colorado online sportsbooks are authorized and regulated in the Centennial State. They offer an extremely wide showcase of sports betting products for customers who are 21 or over and physically located inside Colorado when placing real money wagers online.

Bets on MLB regular season games are quickly becoming a popular topic of discussion and entertainment among sports bettors in Colorado, and COBets  has new customers covered with a complete list of CO Sportsbook bonuses and promo codes for individuals who register for a new verified account through us and perform an initial deposit.

Legal online sports betting in Colorado is just a few clicks away! Try out a variety of wager types including straight bets, parlays, point spreads, totals, propositions, and even live betting – and try your hand at picking a winner as you root on your home team!

David Huber is a seasoned writer with over 15 years of experience covering the online poker, online casino, and online sports betting sectors. He has performed various roles within the iGaming industry since 2006 including: reporter, editor, virtual assistant, podcast host, and lead forum moderator.

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