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Colorado sports wagers surpass $5.0bn since legalization


Players in Colorado spent more than $5.0bn betting on sports during the first 21 months of legal wagering in the state, while new figures reveal year-on-year growth in revenue and handle for the month of December.

Colorado opened its legal sports betting market in May 2020, enabling consumers to wager both online and at retail sportsbooks located across the state.

In that time, players wagered $5.03bn on sports, with revenue from this reaching $325.9m, according to the Colorado Department of Revenue.

The milestone handle figure was reached in December, during which players spent $461.4m betting on sports, an increase of 62.6% from $284.6m in the same month of the previous year, but 2.9% down from $469.0m in November 2021.

Online was by far the channel of choice for consumers, with $454.9m bet via the internet, compared to $6.5m at retail sportsbooks in Colorado.

Revenue for December amounted to $24.7m, representing a 43.6% year-on-year increase, but a 32.9% drop on the record $36.8m posted in November.

Some $24.6m of this revenue was generated online, while the remaining $156,455 came from activity at retail sportsbooks.

Football remained the most popular sport to wager on in the state, drawing $136.5m in total bets during December. Basketball ranked second with $125.5m, while parlay and combination bets reached $79.4m for the month.

The Colorado Department of Revenue also revealed that the state was able to generate $770,370 in taxes in December, up 44.9% on the previous year.