- Colorado saw more than $230 million wagered on sports in November.
- Over $18.3 million was generated in gross revenue.
- Colorado collected $800,000 in taxes from sports bets.
DENVER – Colorado bettors have once again set the single month betting record in November as sports betting continues to climb.
Local bettors have been taking heavy action mainly on football events. This goes for both NFL games as well as NCAA college football events.
As the NFL postseason is on its way, the CFB bowl games are beginning, and the NBA season returns, those betting on sports in Colorado may manage to break another record.
Sports Betting Boom
Colorado has consistently been one of the market leaders in terms of sports betting activity. The Centennial State has seen many successful sports betting months in 2020.
“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,” said Dan Hartman, director of the Colorado Division of Gaming.
While Octobers $210 million in betting handle was impressive, according to the Colorado Department of Revenue’s Division of Gaming’s official report, the Centennial State saw $231,238,842.15 wagered on sports in November.
From the total betting handle, $226,872,186.87 came from online and mobile sportsbooks, while just over $4.3 million were wagered at physical retail sportsbooks.
In terms of sports betting revenue, local sportsbooks collected $18,354,655.08 in gross gaming revenue, with the state collecting $793,820.04 in tax revenue.
Football once again was the most wagered on sport in the state, with NFL betting accounting for more than 38% of all wagers in November.
Percentage of Wagers by Sport
- Football-Pro American 38.3%
- Parlays/Combinations 17.5%
- Other 13.6%
- NCAA Football 9.6%
- Table Tennis 5.4%
- Basketball 4.2%
- NCAA Basketball 3.6%
- Soccer 3.2%
- Golf 2.2%
Sports betting is expected to continue to boom in Colorado through the new year as the end of the NFL season and the start of the NBA season coincide. In addition, the NFL playoffs will garner a lot of betting activity, starting the New Year with a continued boom in the market.
Legal sports betting in Colorado continues to prove to be a major market.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.