Colorado records 16.9% increase in sports betting volume in August
Colorado’s sports betting handle in August was $212m. It’s the sixth state to generate more than US$3bn in lifetime bets.
US.- Colorado’s sports betting market pulled in a $212m handle in August, a 16.9 per cent increase compared to July’s handle of $181.3m.
Out of the $211.9m in August wagers, $208.3m came through online operators, proving bettors’ growing interest in online wagering. Year-on-year, August’s betting volume was up almost 65 per cent from $128.6m in August 2020.
The month’s gross gaming revenue reached $15.2m, up almost 103 per cent from $7.5m in August 2020. August’s net bet proceeds were $7.1m, while July’s proceeds were $9.6m. August’s total state taxes reached $726,365, down from $999,110) in July.
Ian St. Clair, analyst for PlayColorado, said: “It’s encouraging to see a bump ahead of the most important four-month stretch of the year. A mere taste of football in August showed its importance to sportsbooks. But what we saw last month is just a precursor for what we expect for the final four months of the year, which should bring an onslaught of fresh records.”
