- Colorado saw $266.5 million wagered on sports in February.
- Sportsbooks collected $10.4 million in gross gaming revenue.
- The state saw $322,277 in tax revenue.
DENVER – Colorado’s constant growth month over a month has finally stopped, with February seeing slight losses in betting handle and revenue. This could be attributed due to the ending of the NFL season, as well as the shorter month.
Basketball betting dominated both online and retail sportsbooks. With March Madness futures betting and the NBA season being in full swing it’s understandable that Colorado sports betting fans would be placing heavy action on basketball.
While the slight decrease month over month, February is still the third-highest betting handle since Colorado launched sports betting in May of 2020.
Slight Decreases In Sports Betting
According to the report released by the Colorado Division of Gaming, sports betting in Colorado saw $266.5 million wagered in February. This is down 18.4% from the $326.9 million wagered in January, which is the current record.
Sportsbooks collected $10.4 million in sports betting revenue with the state seeing $322,227 in taxes collected. Revenue is also down from the $23.1 million in January and $531,489 in taxes garnered as well.
Sports betting fans in Colorado clearly enjoy betting on sports online, with mobile sportsbooks seeing 97% of the total betting handle with $258.2 million on the February wagers coming online.
The retail sportsbooks saw just $8.3 million wagered, but this is up from the $7.5 million wagered in January.
College basketball betting rounds up the top three sports wagered in Colorado for February, with $24.1 million bet on NCAA basketball.
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.