- After a decline in revenue in February, Colorado sports betting handle saw another huge month of profit in March.
- NBA betting was the leading sport, with a huge boost coming from the NCAA March Madness tournament.
DENVER, Colo. – The sports betting industry in Colorado is back on track according to new data just released.
After its first dip in revenue during the month of February, regulated sportsbooks in Colorado saw a new record in betting handle hit in the month of March.
The Colorado Gaming Division put out a report this week detailing the numbers of the betting industry across the state for the month of March.
The report details how March set a new record for betting handle in the state, with $326.9 million being wagered across Colorado regulated sportsbooks. This number destroys the previous record for the state of $266.5 million which was set in January of this last year. This positive news of financial growth for the CO sports betting industry shows how strong the upward trend will likely continue to go in the coming months, and years.
In terms of specific numbers, Colorado sports betting raised $20.4 million in gross revenue for the month of March. This was nearly double from February’s number of $10.4 million, but slightly below the level reached in January of $23.1 million.
Out of the total handle, 98% of bets came in through digital platforms, with the remaining 2% coming in physical sportsbooks. The biggest draw of the month was basketball, with the NBA and NCAA bringing in huge amounts for the books.
The NBA saw $106.9 million wagered, likely spiked by the success of the Denver Nuggets this season. The NCAA was just below that, with $70.9 million coming in. The return of March Madness was the biggest catalyst to this spike. NCAA basketball was then followed by the NHL, with hockey bringing in $13.8 million.
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Jimmy began his journalistic journey as a stat recorder and PA announcer for his middle school baseball team. Full of experience across print, broadcast, and sports radio, he brings his knowledge and toolkit to the LegalSportsBetting team. You can find him watching sports, making parlays, and listening to music on any day ending in Y.