Many sports betting markets throughout the United States surged in the month of October. This was because of the second month of football, combined with playoff baseball, basketball, and hockey. October is always the best calendar month for American sports, and this has proven true since the beginning of legal sports wagering.
Colorado was one of the states that shined amongst the legal American market. The state shattered its previous sports wagering record, and mobile betting was the primary reason. The handle was 98% from mobile wagers, showing the appetite for legal sports betting in The Centennial State.
Smashing State Records
The state’s previous sports betting handle record was set in September of 2020. The number came in at $408.3 million, but this total was shattered in October when the handle resulted in $491.4 million.
This was a 20.4% increase from the previous record, which is major considering there was just one month separating the handles. The year-to-year increase was also staggering for October.
In October of 2020, the total was just $210.7 million. Although, the COVID-19 pandemic played a role in the limited betting total. COVID-19 vaccines were not available in October of 2020, which kept people out of retail sportsbooks and limited interest in sports. Yet, this was still an increase of 133.2%.
Colorado was one of many states that had a great month in October. These states included New Jersey, which stole the show during the month. The Garden State is the gold standard for legal sports wagering in the United States.
New Jersey recorded its second straight handle over $1 billion. Nevada also had a terrific month in October with a $1 billion handle. Sports betting is legal in 30 states and Washington D.C., so expect the totals to keep rising as football season develops.
Mobile Sports Betting Steals the Show
It’s normal to see the majority of sports bets placed from mobile devices. Nevertheless, Colorado sports betting had a staggering percentage of mobile sports wagers placed this month. Mobile sports betting usually takes most of the handle because people can place wagers anytime from their phone.
They do not have to travel to a retail sportsbook to gamble. The October mobile handle was $483.3 million, which was up 20% from September’s mobile record of $402.7 million. When 98% of bets are taking place on phones, this is a formula for records.
The year-to-year increase for mobile bets was over 134.1% when there were $206.4 million in bets collected.
The Major Sports Lead the Way
Football was the impetus for the large handle, but it was not the sole reason sports betting set records in October in Colorado. Professional and college football accounted for $223.1 million of the total handle.
However, this was not even half, so people in The Centennial State had other betting intentions. Playoff baseball was in full swing during October. Even though there were limited games, $51.9 million was still bet on the contests.
Basketball came in second place for the month, totaling $63.3 million of the handle. College football was third when taken separately from the NFL. There were $51.9 million in college football bets placed in October.
The final sport that made the list was soccer, with $15.8 million in wagers. There are five professional sports teams in the state, so this helps boost interest in every major sports league. The November numbers could continue to raise the sports betting bar despite the loss of playoff baseball for most of the month.
As football unfolds and basketball betting picks up, November could be poised for more records in the coming months.