Basketball Betting Still King in Colorado, Even if February Numbers Down from January
For the second month in a row, basketball was the most popular bet on sport in Colorado.
Professional basketball made up $155.6 million of the state’s $440.5 million handle in February, while college basketball was second at $68.2 million.
Colorado bettors have reason to be interested in NBA betting sites. The local team, the Denver Nuggets, are currently fifth in the Western Conference at 47-32 but have not been a profitable team to back this year against the spread. The Nuggets are just 36-43 against the spread, covering at a 45.6% rate. It’s the 10th-worst cover percentage in the league.
Jokic Could Reward Local Bettors
Any Colorado bettors who backed Denver forward Nikola Jokic to repeat as MVP could see themselves cashing the 15/1 preseason ticket.
Jokic is currently the MVP favorite at FanDuel Sportsbook (-310) as the final week of the NBA regular season is set to conclude on Sunday.
Jokic is averaging 26.8 points, 13.7 rebounds and 8 assists per game, which is identical to last season’s 26.4 points, 10.8 rebounds and 8.3 assists he averaged during his MVP season a year ago.
Philadelphia’s Joel Embiid (+250) and Milwaukee’s Giannis Antetokoumpo (+550) have the next best odds to win MVP.
In other future bets, the Nuggets are currently +2700 to win the NBA title at FanDuel Sportsbook and +1100 to win the Western Conference.
Denver Hockey
Hockey was fourth in February for handle, taking in $24.1 million in bets. Football was third at $31.4 million with the Super Bowl responsible for the majority of the month’s handle.
Colorado has two top teams at the college and professional level: the Denver Pioneers and Colorado Avalanche.
Denver heads to Boston on Thursday to take part in the Frozen Four. At DraftKings Sportsbook, the Pioneers are +1.5 (-175) on the puck line for its matchup against Michigan (-165 moneyline). Denver is also a +135 moneyline underdog and is +350 to win the NCAA title.
Michigan (+150), Minnesota State (+275) and Minnesota (+380) are the other Frozen Four contestants, with Minnesota State a –130 moneyline favorite for its semifinal contest against in-state rival Minnesota.
In the NHL, the Avalanche have the best record in the league at 49-14 and feature a league-high 104 points. Colorado is the favorite at BetMGM Sportsbook to win the Stanley Cup at +375. The Avalanche are also favored to win the Western Conference (+150).
Colorado Sports Betting, February vs. January
| Month | Total Handle | Mobile Handle | Revenue (GGR) |
|---|---|---|---|
| February | $440.508M | $434.925M | $19.604M |
| January | $573.720M | $567.107M | $34.640M |
| Change | Down 23.2% | Down 23.3% | Down 43.4% |
Other February Figures
Mobile sports betting made up the majority of wagers in February, with $434.9 million of bets placed online, down 23.3% from January’s $567.1 million and was 68.4% higher than February 2021’s $258.2 million.
Colorado’s February revenue came to $19.6 million, a decrease of 43.4% from January’s $34.6 million and was 87.7% higher than February 2021’s $10.4 million.
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