Friday, May 12, 2023

A tiny town in Colorado is "the most valuable town in legalized sports gambling America" but makes very little money on sports gambling

Action Sports Network:

Colorado geographically lies in one of the deepest online black hole sports betting market outside of California and Texas


Along Black Hawk’s less than two mile road, there are 15 casinos. Inside those casinos, many of which are designed to mimic a “Sin City” vibe, just under $900 million worth of gambling revenue was produced in 2022, making it the 13th-most valuable city in gaming, according to the American Gaming Association.

In fact, last year, 14% more gaming revenue was generated in tiny Black Hawk than revitalized downtown Las Vegas.

In sports betting, Black Hawk’s value is in being the land-based location for online sportsbooks. Mobile gaming is where the vast, vast majority of bettors place their wagers.

And as is the case with most states, sportsbooks that operate on mobile must be tied to a land-based casino.


in an average month, roughly 70% of Colorado’s sports betting handle is emanating from the Black Hawk relationship.

And now here comes the awkward part. The most valuable city in sports gambling doesn’t really make any money on sports gambling itself.