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Colorado sees first sports betting declines in February


The Colorado Department of Revenue has revealed that the US state suffered its first month-on-month declines in sports wagering revenue and handle during February.

Gross gaming revenue for the month amounted to $10.4m, down 55.0% from the record $23.1m reported in January.

Online revenue reached $11.0m for the month, but a $547,436 loss from retail sports betting operations pushed the overall figure down.

Colorado consumers wagered a total of $266.5m on sports in February, a drop of 18.5% from $326.9m in January and the lowest monthly amount since November last year.

This was also the first time Colorado failed to set a monthly handle record since the state opened its regulated market in May 2020.

Basketball remained the most popular sport for consumers to bet on, with a total of $95.0m wagered during February.

Football betting amounted to $39.6m, while $24.2m was wagered on college basketball in the month. Parlay and combination also attracted $39.9m in wagers,

Players won $256.1m, while operators paid $332,227 in sports wagering taxes.

Revenue from sports betting since the market launched amounted to $109.3m, with players having spent $1.80bn in the process.