- Colorado sportsbooks reported a revenue loss in February.
- This is the second month since launch that Colorado sportsbooks have reported a loss.
- Colorado is now the sixth state to surpass a $6 billion life-time sports betting handle.
DENVER, Colo. – Colorado’s February sports betting numbers show unexpected decline in betting handle and revenue, and over $1.1 million in gross revenue loss.
February Revenue Loss
The overall number of Colorado players placing bets in February dipped, and when paired with the cost of promotional credits by Super Bowl betting, and a good amount of well-placed bets, sportsbooks took a larger hit than normal.
This is the second time that Colorado sportsbooks have reported a gross revenue loss, the other time being September 2020, when they reported almost $3.4 million in losses.
The Colorado Department of Revenue reported a total gross revenue of $19.6 million, showing a 43.4% decline from the $34.6 million in legal sports betting revenue they pulled the month prior.
Colorado Revenue Comparison
- January Sportsbook Revenue: $34,640,219
- February Sportsbook Revenue: $19,604,490
Taxes & Betting Handle
Sportsbooks in Colorado did manage pay out nearly $315,000 in taxes to the Colorado state government in February, which is admittedly less than the $1.4 million they paid in taxes in January.
Colorado players wagered $440.5 million on sports in February, 23.2% less than the record $573.7 million wagered just one month prior in January.
Although February’s handle was a stark drop from January’s, it still marked a 65.3% year-over-year improvement.
Following the release of February’s sports betting report, Colorado became the sixth legal sports betting state to surpass $6 billion all-time handle since launch.
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