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Colorado sports betting revenue up despite handle drop in March


Player spending on sports betting in Colorado declined 2.2% year-on-year in March, though the US state was still able to report an increase in revenue.

Handle for the month amounted to $494.4m, which was down from $505.6m in March 2022 but 16.3% ahead of the $425.1m wagered in February of this year.

Consumers bet $489.9m online during the month, while the remaining $4.5m was wagered at land-based, retail sportsbooks in the state.

Gross gaming revenue for March stood at $35.4m, an increase of 25.5% from $28.2m in the same month last year and also 56.6% ahead of the $22.6m reported in February this year.

Of this total, $35.3m was generated from online sports betting, while just $161,220 came from retail wagering.

Basketball remained the most popular sport among players in the state by some distance, drawing $193.0m in bets during the month, $191.8m of which were placed online.

College basketball ranked second with total spend of $94.3m, then ice hockey on $25.3m, tennis with $25.3m and soccer at $25.1m.

Players won $448.5m from sports betting in March, while tax payments amounted to $3.1m.