The total Colorado sports betting handle declined for the third consecutive month in June, as well as falling for the first time on a yearly basis.
Colorado’s total betting handle stood at $310.7m in June 2023, a 19% decline from the $385.2m the Centennial state achieved in May.
This also represented a 0.8% fall from the $313.2m the state reported in the same period last year.
Of the total wagers, the vast majority resulted from online wagers at $308.2m, with just $2.44m originating from retail and land-based bets.
Players bet the highest totals on baseball, which received $104.6m in wagers. The second and third most popular sports were basketball and tennis; reporting $57.9m and $23.7m respectively.
This represented a change from June 2022, when Ice Hockey was the state’s third most popular sport to bet on instead of tennis.
Mixed revenue results
In terms of gross gambling revenue, gambling businesses recorded $9.2m in June revenue, a 70.7% decline from the $31.4m achieved the previous month.
However, despite the lower handle, the revenue an improvement on the $6.8m reported the previous year.
Once again, online dominated the total revenue, at $9.9m. Retail and land-based revenue was negative for the month at -$674,000.
Players received $301.4m from sports betting bets in June; $298.3m from online and $3.1m from retail. The state collected $442,000 in taxes for the month.