Colorado sports betting handle reaches $518m in December

The sports betting handle was up 12.3 per cent year-on-year. 

US.- Colorado’s sports betting handle totalled $518.1m in December. That’s an increase of 12.3 per cent from December 2021 but a 6.3 per cent decrease from $552.6m in November 2022. 

Some $514.3m was wagered online and $3.8m at retail sportsbooks. The Colorado Department of Revenue reported gross gaming revenue of $40.9m, an increase of 65.6 per cent compared to December 2021 and 8.8 per cent from the previous month. Online gaming revenue totalled $40.7m and retail gaming revenue $251,908.

The most popular sport for betting was basketball with $147.9m in bets across online and retail. Football betting amounted to $137m, college football $38m and college basketball $33.1m.

Players won $477.2m while Colorado earned $2.6m in sports betting taxes. The state received $19.7m in tax receipts in 2022 as a whole.

Colorado became the seventh state to surpass $10bn in all-time sports wagering handle, with $10.2bn in bets to date. More than half – $5.18bn – was generated in 2022, and 98 per cent was generated via mobile wagering. 

See also: Two Colorado tribes request a change in sports betting laws