Sports betting has become an important industry. So don't underestimate the dollars that this form of gambling generates
This activity, primarily available through apps set up by Colorado casinos, allows Coloradoans to place bets on a range of professional games and a laundry list of sports competitions. Voters kicked off the 2019 state and local elections to sports betting at local casinos. Last year marked the inaugural year for sports betting activity.
The importance of sports betting as a huge dynamic in the state's economy was highlighted last week by Teller County Assessor Colt Simmons, who is attending a special conference in the state capital on the subject. The appraiser noted that this is now a $ 3 billion industry and is expected to hit the $ 10 billion mark.
That trend could only get worse as professional sports take a well-known move if the pandemic hits a possible conclusion or comes under control later this year. 2020 was a bad year for big sporting activities.
This did not stop the betting volume.
With the arrival of sports betting in casinos, Simmons stated that officials want to make sure that proper property valuation is done for Colorado gambling establishments. However, he wants to answer many questions about sports betting, such as the impact on Teller County and the gaming industry.
Most casinos have contracts with sports betting companies to handle these bets. However, sports betting statistics have surpassed preliminary estimates.