- Colorado sportsbooks saw a jump of 30.4% in June revenue despite a handle decline of 7.7% from May.
- Sports betting in the Centennial State is expected to heat up with the upcoming NFL season.
- It is projected that handle will be on the rise but revenue may fall due to NFL sportsbook promotions.
DENVER – Colorado sportsbooks have posted higher revenue in June month-over-month, continuing their upward trend in monthly figures.
The Centennial State saw a drop in June handle but their overall revenue jumped. If that sounds confusing, there is a simple explanation. The number flips have to do with seasonal promotions and other expenses sportsbooks have had to pay for that were less in June than they were in May.
The Colorado June Sportsbook Numbers Report
The Colorado Department of Revenue (CDR) released its June sports gaming report this week showing that while the handle was down, revenue was up. In May, sportsbooks posted a combined handle of $248,968,193. That figure declined by 7.7% to $229,764,688 for the number of bets placed in June.
Sports wagering venues, as well as mobile sportsbooks, saw action on the Denver Nuggets and the Colorado Avalanche more in May before both teams fell in June. Still, revenue prevailed with mobile sports betting platforms seeing the most wagers, as is the norm for states nationwide with regulated sports gaming industries.
There was a jump of 30.4% in sportsbook revenue for June with $19,730,957 and a tax hold of 8.6%. May revenue was seen at $15,129,108 with a hold of 6.1%. This equated to an increase of $4,601,849 gained in June profits from the Colorado sports wagering industry.
What Figures To Expect For The Rest Of The Year In Colorado
Colorado sportsbooks are expecting to see a surge in handle as the NFL season is coming up with plenty of Denver Broncos bets to be had by sports bettors statewide. There is a question of revenue though, as the football season brings with it a plethora of promotions to get gamblers wagering with specific sportsbooks.
That revenue profit will be put toward paying off those promotions, not including the number of winners each sports betting operator will have to pay out each month. The sports betting industry of Colorado could take a turn in the opposite direction with higher than ever handles but lower revenue numbers seen within their future reports.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.