Colorado sports betting: April sees another $500M+ handle

Colorado sports betting: April sees another $500M+ handle

Mobile apps accounted for the majority of bets.

US.- Colorado saw its eighth consecutive month with a sports betting handle of over $500m in April. The state recorded $509.5m in bets. There was an 8.9 per cent dip in gross sports betting revenue year-on-year.

Wagering through mobile apps totalled $507.1m, with operators holding 6.4 per cent for $32.2m in revenue. Retail sportsbooks saw a handle of $14.1m and $51,000 in revenue with the hold below 0.4 per cent. Colorado collected $1.9m in tax.

Concluding its fourth year of legal wagering, it joins New Jersey, New York, Nevada, Illinois, and Pennsylvania in surpassing $18bn in all-time handle. Year-to-date, the state has seen an 18.7 per cent increase in wagering compared to the same period last year. Year-to-date tax revenue is $664,400 ahead of last year.

See also: Colorado residents to determine sports betting revenue allocation

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