- Sports betting launched in Colorado on May 1 as planned despite the COVID-19 pandemic.
- Given the difficulties the state faced launching mid-pandemic they’ve had stellar results.
- November sports betting handle was up 9.7% from the previous month.
Another month, another sports betting revenue record in Colorado. November data has been released by the state Department of Revenue and shows that Colorado’s sportsbooks took a total of $231,238,842 in bets. This represents a 9.7% increase over October’s record handle of $210 million and the third straight month with handle of $200 million plus.
Colorado’s November numbers continued to reflect the importance of the online wagering component in driving revenue. Of the $231.23 million in revenue $226.87 million of it came via online betting–that’s right around 98% online. Pro football was the most popular betting sport by a wide margin followed by college football. NFL betting accounted for $88.4 million in wagers overall with college football bringing in $22.2 million. Parlays accounted for $40 million in revenue. And, yes, the insane popularity of table tennis as a betting sport continues in November. Table tennis was the third biggest sport in terms of betting handle bringing in $12.4 million. The ‘Other’ category brought in $31.4 million in bets:
Total hold percentage was 7.94% consisting of 7.78% online compared to 16.16% retail. Colorado is now the #6 state nationally in terms of sports betting revenue.
Here’s the blurb from the press release announcing the numbers:
The Colorado Department of Revenue’s Division of Gaming released figures for November’s sports betting wagering and taxes that show another month with high wagers and substantial taxes collected on this growing industry in Colorado. In November, the total handle for both retail and online sports betting wagers in Colorado totaled $231,238,842, a 9.7% increase over October 2020 total wagers. In November, the state collected $793,820 in taxes from sports betting operators.
November’s top sport was American Pro Football with $88.4 million in wagers placed with both retail and online operators, followed by National Collegiate Athletic Association (NCAA) Football with $22.2 million, and in third was table tennis with $12.4 million. Professional basketball and NCAA basketball took the fourth and fifth slots with $9.6 million and $8.2 million, respectively.
“The positive response by Coloradans to sports betting continues to bring voter intended results that means good things to come for the beneficiaries,” said Dan Hartman, director of the Colorado Division of Gaming.
You can download the full report below:
With the WynnBet sports betting app now live in Colorado the state has a total of 17 mobile betting apps regulated by the Division of Gaming plus an app from the Sky Ute Casino tribal gaming property for a total of 18 betting apps. There are also 12 retail sportsbooks.