Sportsbooks across the country have been announcing record-breaking sports betting numbers over the past couple of months. New Jersey’s sports betting industry broke its highest record, and was the first state to get a handle higher than $1 billion back in September. In October, Nevada joins New Jersey as the second state to hit a $1 billion betting handle as well. States like Pennsylvania, Michigan, and Mississippi are also setting new betting records. And in the latest news in sports betting in October, the Colorado sports betting industry smashes their total betting handle record as well at $491.4 million.
The $491.4 million handle is 20.4% higher than that of September’s $408.3 million. We are also seeing a huge jump in year-on-year numbers with an increase of 133.2% from October 2020’s $210.7 million handle. Meanwhile, betting software development companies are reporting a large increase in online sports betting operations as well. In most cases throughout the country, online sports betting is the dominant platform that the public uses to place their wagers.
Colorado Sports Betting Handle- Online Betting Drives Traffic
Online sports betting in Colorado is the perfect example, if we look at the month’s numbers. Out of the total $491.4 million handle, $483.315 million, around 98% of the total handle, comes from online sportsbooks. This is also the highest mobile betting handle that the state has seen. It is 20% higher than September’s 402.758 million. The monthly mobile handle for October is 134% higher than October 2020’s $206.4 million. The jump in mobile handle is similarly recorded across pay per head bookie sportsbooks across the country as well.
The increase in handle has jumped a lot since early fall with the MLB entering the playoffs and football season starting. But now, we also have the NBA and the NHL, which both started in October, plus college basketball in November. In Colorado, residents can bet on popular teams that all have stong fan bases. You have the Denver Broncos in the NFL, the Denver Nuggets in the NBA, the Colorado Rockies in the MLB, the Colorado Rapids in the MLS, and the Colorado Avalanche in the NHL.