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Colorado betting brings in $147.3m in debut year as handle hits $2.34bn


Revenue from sports wagering in Colorado amounted to $147.3m during the first year of regulation in the US state, with players staking a total of $2.34bn.

Colorado opened its legal sports betting market on May 1, 2020, with both online and retail wagering options available to players across the state.

During April, the final month of the first year of regulation, revenue amounted to $17.6m, down 13.7% from $20.4m in March and some way short of the $23.1m monthly record achieved in January.

Online wagering accounted for $17.4m of all gross gaming revenue in April, compared to just $186,291 from retail activities.

Turning to player spending in April and the state’s handle reached $244.4m, which was 18.8% lower than the $301.0m wagered in March and 25.2% behind the $326.9m monthly record set in January.

Some $241.9m was spent with online sportsbooks in April, while the remaining $2.5m was wagered at retail locations across the state.

Basketball was by far the most popular sport to bet on during the month, drawing $84.2m in total wagers, representing 34.5% of all bets placed in April.

Baseball ranked second with $48.3m in bets, or 19.7% of total wagers, then ice hockey with $10.6m, or 4.3% of all wagers in April. Some $42.9m was also wagered in parlay bets, which represented 17.6% of total bets.

The state was able to generate $1.1m in taxes from sports betting during April, while players won $226.9m from wagering.