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Colorado sportsbook stakes continue growth in November


Colorado’s regulated sports betting market continued its upward trajectory into November, with amounts wagered growing 9.7% month-over-month to $231.2m. 

After players won back $212.9m – up from $193.3m in October – gross revenue for November was up 5.5% at $18.4m. 

After adjustments such as bonus promotions and the 0.25% federal excise tax on betting handle, net sports betting proceeds (revenue) actually fell month-over-month, dropping 6.9% to $9.0m. This resulted in total taxes of $793,820.04 for the state. 

Online dominated the market, accounting for $226.9m – or 98.1% – of handle, and $17.6m (or 96.2%) of GGR.

In a month in which the National Football League was in action, professional football was the most popular sport by far, accounting for $88.4m of amounts wagered. 

National Collegiate Athletic Association (NCAA) football followed in a distant second, on $22.2m, with table tennis making up the top three with $12.4m staked. 

“The positive response by Coloradans to sports betting continues to bring voter intended results that can only mean good things to come for the beneficiaries,” Dan Hartman, director of the Colorado Division of Gaming, commented.