Colorado sports betting up to $249m

The US state of Colorado’s sportsbooks returned to growth as interest in the playoff runs of the Colorado Avalanche and Denver Nuggets pushed the state’s betting volume to $249m in May.

The month’s results show how valuable the success of local teams can be to bookmakers, especially in what is the off-season of sports betting, according to PlayColorado, which tracks the state’s regulated sports betting market.

“The US jurisdictions that have fared best over the last two months have tended to be those like Colorado where a local team thrived or a locally held event drew heavy interest,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayColorado.com.

“The biggest take-away is that Colorado’s bettors remain engaged and that will prove important once football season kicks off and robust growth returns.”

Sportsbooks accepted $249m in May wagers online and in retail sportsbooks, or $8m bets per day, according to data released on Friday afternoon by the Colorado Division of Gaming.