May 5, 2023
Colorado and Delaware have coincidentally released their sports betting revenue reports simultaneously. Starting with Delaware, the state recorded the least money spent on sports wagering in the past seven months in March. But still, the state recorded increased wagers at regulated sports betting sites.
Bettors in the state wagered $3.5m in March, a 32.7% drop from the $5.2m March last year. This figure is also 14.6% less than the $4.1m placed in February 2023 and is the lowest number since August 2022. Despite this drop, sports betting revenue in the state in March 2023 was $544,385, slightly lower than the $553,465 in March 2022. However, this figure is 77.6% higher than in February 2023, which was $306,573.
Once again, Delaware Park led the pack in revenue generated with $299,843 from the $1.9m wagered, surpassing Bally's Dover by $150,946. Harrington Raceway comes in third with $94,514 from $599,545 in bets.
Regarding gambling, online casino games recorded an 11% year-on-year increase to a record $41.5m in total wagers. Note that this is also a 9.2% increase from February 2023. Table game players wagered $13.5m, while the lottery recorded $28.0m.
The total iGaming revenue posted a 40.0% growth to $1.4m compared to March 2022. Video lottery games were the primary source of income, generating $1.1m, whilst table games totaled $426,395, and poker rake and fees amounted to $32,152.
The story in Delaware is somewhat related to the reports posted in Delaware. In March, the amount of money Colorado residents spent on sports betting decreased by 2.2% compared to March 2022. Gamblers in the Centennial State placed $494.4m worth of bets in March, a decrease of $11.2m compared to March 2022. However, that's still a 16.3% increase from $425.1m staked in February 2023.
Online sports bettors generally wagered $489.9m over the month, and the remaining $4.5m was from retail sportsbooks. Gaming revenue in the state shot up by 25.5% to post $35.4m compared to last March’s $28.2m. That's also 56.6% more than the $22.6m reported in February. The total income includes $35.3 million from online sports betting and only $161,220 from retail betting shops.
The report adds that most bettors in Colorado prefer betting on basketball, with $193m in bets placed on the sport in March. Of that amount, $191.8m was from online betting. College basketball comes second with $94.3m in bats, while ice hockey ($25.3m), tennis ($25.3m), and soccer ($25.1m) closed the top five most preferred betting sports in this region of the United States. Colorado reveals that gamblers won $448.5m from sports betting in March, paying $3.1m in taxes.
Matteo "Teo" Bianchi, hailed as BettingRanker's "Data Dynamo", is the quintessential combination of a sports enthusiast and a numbers whiz. His meticulous research ensures bettors are always a step ahead, making him a cornerstone of the platform.