Draftkings are leading the race but smaller operators are still dueling it out for the remaining share of the market
Early estimates indicate that the market is currently dominated by FanDuel and DraftKings, however, it seems that others are close behind. Retail and online sports book within the state of Colorado has seen significant growth and reached a new high once again last October.
This is mainly due to the fact that such outlets and online sportbooks have capitalised on the reassembling of a more normal sports schedule since Colorado launched sports betting back in May. However, gaming researchers still emphasise that DraftKings and FanDuel have managed to secure most of the Colorado market.
“October’s data shows that Colorado’s market is able to thrive even as the sports schedule normalizes and able to overcome a local team struggling, such as the Denver Broncos,” said Jessica Welman (right), analyst for PlayColorado.
She continued to outline that several indicators in the market show that such a market is maturing as major players have managed to secure leads within the market which is very common within every other established legal market across the U.S. In a nutshell, sportsbook in Colorado managed to generate $210.7 million in bets during the month of October, according to segmented data published by the Colorado Department of Revenue’s Division of Gaming.
Additionally, a record in gross revenue was generated amounting to $17.4 million in September.
Furthermore, it is estimated that DraftKings and FanDuel are leading the market within America and obtained about 84% of Colorado’s gross gaming revenue since the market launched in May. This is according to gaming researchers Eilers & Krejcik Gaming and obtained by PlayColorado.
With this, more competition seems to be stirring in the mix as other players are stepping up their game with innovative solutions. Such can bee seen through Penn National’s launch of their latest Barstool-branded app which is due to be release in the coming months whilst PointsBet was launched early October.
Analyst Ian St.Clair (left), whom represents PlayColorado.com, has stated that so far, Draftkings seem to be leading the race but smaller operators are still dueling it out for the remaining share of the market. He further added that the market in Colorado is still sorting itself out which may arise issues in terms of challengers to the main players in the industry.
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