Browse articles by topic

Colorado betting handle falls again in May


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.