Illustration: Aïda Amer/Axios

Colorado became the 18th state to officially begin accepting legal sports wagers, including via online sportsbooks, at the start of May.

Why it matters: The convenience of mobile betting is the future, and with sports creeping back, Colorado can treat the next few months more or less like a beta test as it prepares for the wave of that will come when sports return in full.

The state of play: Since PASPA was repealed two years ago, states have steadily passed sports betting legislation. Some allow mobile betting, while others require bettors to place wagers in a physical casino.

  • Mobile betting: New Jersey's sports betting volume nearly matched Nevada's within its first year, largely thanks to a massive mobile footprint, which saw 86.5% of a record $562.7 million wagered in November 2019 coming from online bets, per Legal Sports Report.
  • No mobile betting: New Yorkers are so desperate for mobile betting that they're taking their phones across the river to New Jersey, costing New York millions in tax revenue. Multiple other states with sports betting, but no mobile option, fell way short of revenue projections last year.

The big picture: Developers like Boom Sports, who just inked a huge deal with Penn National Gaming to operate mobile sportsbooks in five states where online sports betting isn't even legal yet, believe that policy will eventually catch up with consumer behavior.

"When we started Boom Sports five years ago, we looked at the market, and less than 1% of all casino gaming revenue was generated online. It was still 99% generated in land-based casinos, and we just knew based on the world and where it was going, that was going to change in a big way."
— Stephen Murphy, CEO

The bottom line: Sports betting has long been associated with bookies and casinos, but those days are coming to an end. Now, sportsbooks' target customer is closer to your average sports fan — and the best way to reach the vast majority of them is through their phones.

Go deeper: Coronavirus sends sports betting scrambling

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Aug 10, 2020 - Sports

The college football season is on the brink

Illustration: Eniola Odetunde/Axios

Power 5 commissioners held an emergency meeting on Sunday to discuss the growing concern that fall sports can't be played because of COVID-19.

Driving the news: The Mid-American Conference on Saturday became the first FBS league to postpone fall sports and move them to the spring, and there are rumblings that Power 5 conferences are ready to follow suit.

BodyArmor takes aim at Gatorade's sports drink dominance

Illustration: Eniola Odetunde/Axios

BodyArmor is making noise in the sports drink market, announcing seven new athlete partnerships last week, including Christian McCaffrey, Sabrina Ionescu and Ronald Acuña Jr.

Why it matters: It wants to market itself as a worthy challenger to the throne that Gatorade has occupied for nearly six decades.

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.