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Colorado sports betting revenue more than doubles to $15.2m in August


Sports wagering revenue in Colorado increased 102.7% year-on-year to $15.2m in August as the US state also saw its handle jump 64.8% to $211.9m.

Gross gaming revenue was significantly higher than $7.5m in August 2020 – a month when the state was still emerging from the Covid-19 shut-down – but slightly down from $15.7m in July of this year, according to the Colorado Division of Gaming.

Online accounted for $15.0m of overall revenue for the month, while retail contributed $230,246 to the total figure.

In terms of handle, the $211.9m wagered by players in August surpassed the $128.6m spent in the same month last year and was also 16.9% higher than the $181.3m bet in July of this year.

Players in the state spent a total of $208.3m betting in sports online, as well as $3.6m at retail sportsbooks across Colorado.

Baseball remained the sport of choice for consumers in the state, attracting $69.6m in bets, or 32.8% of all wagers placed during the month.

A total of $13.6m was wagered on football, while tennis drew $13.5m in bets, soccer $11.5m and tennis $10.6m, while players also placed $61.9m in parlay bets.

Consumers won a total of $196.7m from betting on sports in August, while the state was able to generate $726,366 in tax.

The Colorado Division of Gaming in recent week has issued a number of new licenses in the state. Sports data solutions provider LSports secured an official sports betting license, while platform provider Strive Gaming received a temporary vendor major license.

Meanwhile, MaximBet, a new online sports betting brand owned and operated by Carousel Group and presented by lifestyle magazine brand Maxim, launched in Colorado, while 888 also launched a new sportsbook in the state in partnership with sports magazine Sports Illustrated.

In addition, sportsbook operator Tipico set out plans to open a new sportsbook technology hub in Colorado, just weeks after launching online sports betting in the state.