March Madness Boosts Colorado Sports Betting Revenue to Nearly $500M
The 2023 men’s college hoops tournament, March Madness, helped supercharge sports betting revenue inwards the res publica of Colorado River inward the month of March, according to a recent report from the Centennial State Division of Gaming (CDG). The CDG lately reported $494.4 meg inward add together sports bets were made inward March.
The 2023 figure is a 2.2% drop off from cobbler's last year’s tot of $505.6 million but reflects an increment of 16.3% from the month of February.
The Colorado Department of Revenue (CDR) also released its monthly news report for March. Colorado posted a sum up revenue gaming revenue (GGR) of $45.9 million. The GGR for March is a 103% growth from February and it’s upwardly 62.7% compared to March 2022.
The CDR reported tally nett sports betting proceeds for Mar were $35.4 million with a combined win pct of 9.29%. CO will cod $3.1 one thousand thousand inward country taxes after another successful month of sports betting.
$287M Bet on Hoops in Colorado
Bettors inward Colorado sexual love to wager on basketball, whether it’s the NBA or college hoops. At least 58% of all sports bets in the month of Mar were on basketball. The NBA attracted 39% of all bets, and 19.1% of all wagers were made on college basketball.
In March, $287.3 gazillion inwards wagers were made on both pro and collegiate basketball. Bettors fired out on $193 million inward NBA wagers and wager $94.3 jillion on college basketball. Collegiate hoops saw a huge uptick due to the Mar Madness college basketball game tourney for both men and women.
Black Hawk and Cripple Creek retail sportsbooks accepted $1.2 billion inward NBA bets and $1.98 one thousand thousand in college basketball wagers. Online sportsbooks and mobile apps attracted $191.8 gazillion inwards NBA wagers and $92.3 1000000 inwards bets on college basketball.
Sportsbooks inward Centennial State netted $4.3 meg in profits in March. They took advantage of a tumultuous college hoops time of year when many top of the inning seeds were toppled betimes inward the Mar Madness tournament. The University of Nutmeg State won the men’s tournament as the #4 seed after they frustrated the #5 San Diego State Aztecs in the championship game.
LSU won the women’s March Madness tourney as the #3 seed when they picked off #2 Iowa, who swage undefeated and top-ranked South Carolina inward the semifinals.
Parlays and other combined sports wagers comprised 18.3% of all Colorado River sports wagers inward March. Ice hockey and lawn tennis combined for 10.2% of summate sports bets and nearly $50.4 zillion inwards wagers. Soccer attracted 3.9% of all bets and $19.4 zillion from bettors.
The new MLB time of year began inwards the utmost hebdomad of Mar and attributed to simply 1.7% of all bets. Sir Thomas More than $8.18 meg was wagered on baseball.
Bright Future for Nugs, Broncos, and Buffs
It’s an saint time if you passion sports betting and unrecorded inward Colorado. Winning local teams often attract to a greater extent passing(a) bettors compared to seasons when hometown teams are at the merchant ship of the standings. NBA and NHL fans in Denver and the province of Colorado River had lots to barrack about. The Centennial State Avalanche won the NHL’s Sir Henry Morton Stanley Cup shoemaker's last season, and the Nuggets emerged as the top side team inward the NBA’s Western Conference this season.
The Nuggets secured the #1 seed inward the horse opera Conference playoffs and won their opening-round series against the MN Timberwolves. They encounter the #4 Phoenix Suns inwards the group discussion semifinals and jumped come out to a 1-0 serial conduct after winning Game 1 inward Denver.
NFL and college football game fans inward the nation of Colorado River have a glimmer of go for after a dissatisfactory 2022 time of year for both the Mile-High City Broncos and Centennial State Buffaloes.
Deion Sanders late joined the CO Buffaloes as their new chief football coach. Sanders, who played both in the NFL and MLB, turned around Mahalia Jackson State’s computer programme after leading them to a 27-6 put down o'er the utmost troika seasons. CO alumni are banking on similar success from Sanders, who will essay to reinstate a winning civilisation inward Boulder.
The Broncos recently hired a unexampled chief coach-and-four when they tapped Sean Payton to replace Nathaniel Hackett after a one-and-done season. Payton led the 2009 New siege of Orleans Saints to a triumph inwards Super Bowl XLIV, and Broncos fans hope he put up untroubled Denver a fourth championship.
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