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  • Colorado Avalanche Host Winnipeg Jets in Central Division Faceoff

    Colorado Avalanche Host Winnipeg Jets in Central Division Faceoff

    NHL Odds: Colorado Avalanche Host Winnipeg Jets in Central Division Faceoff

    A Central division faceoff will take place between the Colorado Avalanche and Winnipeg Jets on Wednesday at Ball Arena. The Jets are 1-1 in their 2022-23 season start, while the Avalanche have had one more game on the schedule and are 2-1. Puck drop is at 8 PM ET.

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    After losing 5-3 to the Calgary Flames on October 13, the defending champion Avalanche bounced back with a 6-3 win over the defensively porous Minnesota Wild. Colorado’s rookie centreman Ben Meyers opened scoring in the first period, and then the Wild answered with a quick goal shortly after. The back-and-forth pattern repeated twice more before the Avs got their insurance goal early in the third, and they eventually left the ice with a 6-3 victory. The Avs are still awaiting the return of their captain Gabriel Landeskog, who remains out after getting knee surgery last season.

    The Jets are hoping to bounce back after losing to the Dallas Stars on the 17th. Mark Scheifele was the first to get on the scoreboard, but that was the only goal Winnipeg would score all night, while conceding four. The Jets are still waiting on the start of their new head coach Rick Bowness, who tested positive for COVID-19 right before the start of the season.

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  • Colorado Sports Handle Declined but GGR Increased

    Colorado Sports Handle Declined but GGR Increased

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    Statistics show that gambling is one of the preferred pastimes of more and more people in the United States. As the financial results of many markets in the US show, gambling revenues continue to grow as America braces for a second record year in a row. However, there are always some fluctuations as well.  

    Colorado Handle Continues to Decline

    Colorado, for example, continues to see a gradual decline in its sports betting handle. July was notably the fourth month in a row where the states’ sports wagering kept on declining. To be more precise, sports betting handle for the month was $258.4 million, which is the lowest sum sportsbooks in the state have recorded in 2022. For comparison, in June, sports betting operators earned $313.2 million, meaning the industry experienced a 17.5% month-on-month decline.

    According to official data, most of July’s handle was spent on online sports betting. Online punters collectively wagered about $256.4 million on sports, as opposed to retail sportsbooks which barely mustered a handle of $2 million.

    If we take a look at which sports performed the best, we can see that baseball was Coloradoans’ preferred discipline to bet on. Almost half of all wagers placed on sports, or $110.6 million, were bet on baseball. Tennis was the second most popular game with $24.4 million of the sports betting handle. Basketball’s share sat at around $23.4 million.

    Things Aren’t So Bad After All

    Despite the declining GGR, the situation is not as grim as it may sound. On the contrary, July’s results still represent a year-on-year increase from July 2021’s results. Last year, the sports betting industry in Colorado earned $181.3 million in July, which is 42.5% less than the current year’s results.

    Furthermore, the industry recorded a noticeable gross gaming revenue increase. In July 2022, the industry posted a GGR total of $20.8 million, which represents a 205.9% month-on-month increase and a 32.5% year-on-year increase. Online betting contributed $14.2 million in GGR, which is 68% of the total revenue.

    Lastly, the industry contributed around $1.1 million in taxes in July alone.

    In July, Colorado also launched new regulations that aim to curb gray casinos in the state. This includes crypto casinos and unlicensed venues that try to avoid the state’s strict rules on gaming.

    In other news, bet365, one of the most influential European sports betting operators, just launched in Colorado after a few months of delay.

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  • Bet365 Launches Sports Betting in Colorado

    Bet365 Launches Sports Betting in Colorado

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    Leading British online gaming company bet365 continues its foray into the key US market with another launch. The company’s offerings will now go live in Colorado, following an agreement with Century Casinos.

    Bet365 Goes Live in a Second State

    Bet365 may be a leading company in Europe but is just starting its US journey. The company’s betting products have been available in New Jersey for a while and will now launch in Colorado as well. The British operator secured a license earlier this year and will now launch in the state thanks to its deal with Century Casinos, a company that operates ten casinos across the USA.

    Eligible gamblers will be able to access bet365’s critically-acclaimed sports betting offerings and place wagers on thousands of games across the top sports leagues in the world. Bet365 will also provide customers with exciting opportunities, parlay bonuses, wager boosts and payout offers. Players who choose to play with the British powerhouse will, moreover, be able to benefit from other features such as live sports streaming and cash-out options.

    The Operator Continues to Expand Its Presence

    A bet365 representative spoke about the launch in Colorado. He noted that the renowned operator is happy to launch in a second US jurisdiction and hopes that sports fans will enjoy playing with “the world’s favorite” online sports wagering company.

    Bet365 is furthermore excited about the launch’s timing. The spokesperson noted that he is excited to see bet365 become available in Colorado ahead of the new National Football League season. The beloved sports event kicks in next week and will provide NFL enthusiasts with many new memorable moments. Bet365 will, meanwhile, provide bettors with the opportunity to experience its market-leading in-play products and enjoy its “unrivaled new customer offer.”

    Bet365 is famous for its engaging offerings and exciting promotions. The company hopes to become a key player in Colorado’s sports betting market.

    Bet365 remains bullish on expanding its influence and engaging more sports fans worldwide. The company has operations in many regulated jurisdictions across several continents. The operator is one of the powerhouses in Europe and is a key player in many countries. Because of that, bet365 recently introduced live casino tables with Dutch-speaking croupiers, aiming to reinforce its foothold in the Netherlands.

    A week ago, the British operator reinforced its team by naming the experienced Gareth Kennedy as head of partnerships. Kenedy has a long history with the company and was happy to assume responsibilities for the company’s relations with its partners.

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  • Colorado: Easing Gambling Limits Boosts Casinos’ Revenues

    Colorado: Easing Gambling Limits Boosts Casinos’ Revenues

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    Gambling operators in Colorado reported strong results for the fiscal year 2021-22, judging by details released by the Colorado Department of Revenue. But according to a new report, the recent result was positively impacted by raised gambling limits for the state’s three casinos.

    Colorado Voters in Favor of Lifting Gambling Restrictions

    Back in 1990, voters in Colorado passed a constitutional amendment that restricted the bets for gambling activities such as blackjack, poker and slots to $5 at the state’s gambling venues in Central City, Cripple Creek and Black Hawk. Then, in 2008, those limits were increased to $100 which also saw an increase in the working hours of the gambling venues. The number of gambling activities available expanded as well, resulting in the offering of craps and roulette.

    In November 2020, voters in Colorado passed Amendment 77, a proposal that sought to end the bet limits. The proposal enabled Black Hawk, Central City and Cripple Creek cities to vote to raise the bet limits or remove them altogether. What’s more, the proposal expanded the use of gambling tax to further boost community colleges and help with student retention and completion programs.

    More People Visit Land-Based Casinos, Operators See Record Wagers

    Now, a new report by the Denver Gazette revealed that the passing of Amendment 77 contributed positively to the gaming results for the fiscal year 2021-22. This resulted in record sums wagered by Colorado residents at table games and slot machines. According to Peggi O’Keefe, the executive director of the Colorado Gaming Association, the recent result reaffirms that more people are returning to brick-and-mortar venues. She pointed out that the goal of Amendment 77 was to reduce the number of residents that go to other states to gamble.

    “Our goal in passing Amendment 77 was trying to keep customers that were going to other states.”

    Peggi O’Keefe, executive director of the Colorado Gaming Association

    Only recently, the state introduced new legislation that seeks to crack down on illegal casinos. Under the new rules, the Colorado Division of Gaming will have a wider authority. Ultimately, the new legislation seeks to reduce the black market which in turn will help support local communities and at the same time enhance customer protection.

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