Full Speed Ahead as Colorado Sports Betting Began on May 1

Full Speed Ahead as Colorado Sports Betting Began on May 1

Colorado lawmakers have defied all expectations and challenges of launching legal sports betting amidst a global health crisis and extreme complications to give the Colorado people exactly what they voted for last November – a legal sports betting industry by May 1 2020.

Thanks to the ongoing issues, Colorado’s sports betting launch was an entirely online affair.

Colorado Sports Betting starts with most teams on the sidelines

When legal sports betting arrived in Colorado on May 1, the sporting and betting landscape looked vastly different than the state’s lawmakers, sports fans and online bettors had originally anticipated.

Originally slated for the same weekend, the 146th edition of America’s favorite horse race, the Kentucky Derby should have been one of the first events open to legal wagering. The Colorado Rockies should have already begun their Major League Baseball season and betting on both the NHL and NBA playoffs should have already been in full swing. Fast forward to May 1, and it’s a different world than anyone could have pictured back in November 2019. It’s a credit to all involved that the Colorado sports betting May 1 start date went off without a hitch.

The upside of the crisis – Colorado Sports Betting begins online only

Given that bricks-and-mortar casinos are currently closed, Colorado’s sportsbooks began online only. It’s an unusual method, but one that other states may even adopt too in our shared brave new world. Tennessee State Legislators, for example, voted last year to adopt only online sports betting without any land-based sports wagering available.

Four sports books began in Colorado on May 1 – BetRivers, DraftKings, FanDuel and BetMGM. Other sites, including PointsBet are expected to come online later in the month.

What can I bet on now in Colorado?

Given the most major U.S. and international sporting leagues are on hiatus and the Kentucky Derby rescheduled now until September 5, sports betting options do have their limitations.

That said, Colorado’s sportsbooks are already offering a selection of odds to bet on in the interim. Plenty of betting lines are available on-traditional sports such as eSports, Czech, Russian and Ukrainian Table Tennis, the Nicaraguan Premier League soccer, darts, Belarus Soccer and future bets on the NBA title, Super Bowl, NFL season-long player props and much more.

Later in May, a range of high-profile events for Coloradans to wager on, such as Germany’s Bundesliga soccer matches (estimated May 9, but possibly May 16), the return of NASCAR races (May 17 according to reports), UFC 249 (May 9),  and the much hyped and very highly anticipated Tiger Woods/Peyton Manning versus Phil Mickelson/Tom Brady celebrity golf match (expected on May 24). The unprecedented match play golf match is expected to be exceptionally cathartic for sports fans across the United States seeing four of their long-time sporting heroes in action. As two amateur-at-best golfers will be competing, it is expected that both the golf itself and sports betting action will be wild and all over the place – prop betting opportunities are expected to abound.

How Colorado is expected to benefit

Other than having a first-rate sports betting industry for the state’s players, the Mile-High State is looking at a range of long-term benefits from the fledgling industry.

Colorado sports betting is poised to generate $6 billion annually in bets and the state budget expected to receive an estimated $400 million in revenue once the industry matures over time. Considering the 10% state tax on sports betting revenue and the state is looking at a potential $40 million annual boost for climate-change busting initiatives like the Colorado Water Plan to future-proof water supply.

Enjoy a sports wager today – do it for Colorado.

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