Player spending on sports betting in Colorado declined for the second consecutive month in May, though the state was able to report year-on-year growth.
Wagering handle for the month amounted to $385.2m. This was 6.9% more than $360.3m in May 2022 but 7.8% lower than the $417.8m bet in April this year.
Of this total, $382.1m was spent betting online, while in contrast, just $3.2m was wagered at retail sportsbooks.
Basketball accounted for 32.2% of all wagers placed during the month. Baseball’s share was 23.8%, while parlay and combination bets made up 16.9% of May’s handle.
Turning to gross gaming revenue, this stood at $31.4m for the month. This total was 15.9% higher than $27.1m last year but 10.5% behind $35.1m in April.
Online betting generated $31.2m in total revenue, while retail’s contribution amounted to $216,433.
Consumers won $353.8m from sports betting in May, including $350.9m online and $3.0m at land-based venues. The state collected $2.2m in total taxes from betting.