Colorado Bookie Industry Dips in July
The Colorado bookie industry sees a huge drop in sports betting in July. Despite the uptick in registration for bookies in this pay per head bookie solution, the numbers are low for the month of July. But many in the industry, while unhappy with the numbers, accept that it is simply that time of the year where sports betting is slow. In fact, Colorado is only one of many, if not most, states in the country with a dip in sports betting.
For July, the total sports betting handle for the Colorado bookie industry is at $181,327,994. This is 21% lower than June’s total betting handle of $229.8 million. And despite the dip, we still see a huge growth in the market. Especially when we look at the year-on-year numbers as July 2020’s handle was $59,186,619. That’s a 206% increase in sports betting handle in a year.
Colorado Bookie Industry
For those learning how to be a bookie, it is important that you plan out your year, so that even if there are slow months in betting like July, you won’t be out of money. Numbers are expected to go up in the next few months as baseball season will be heating up, and football season will be starting. The fourth quarter will also bring in the NBA, so there will be a lot of options for players to bet on.
And, as bookie PPH blog experts point out, online sports betting will continue to have an advantage over retail betting. Colorado, for instance, has a betting market where in July, 99% of wagers ($179.125 million) are from online sportsbooks. Even if restrictions will lessen and more retail sportsbooks will reopen, online betting will continue to be in demand. And with the Colorado betting market looking forward to the MLB, the NFL, and the NBA, the numbers will be going up as we head toward the latter part of the year.