Colorado sports betting revenue reaches $35.5m in January
Revenue increased by 2.6 per cent from the same month in 2022 but decreased 13.2 per cent compared to December.
US.- Colorado sports betting revenue was $35.5m in January, up 2.6 per cent from the same period in 2022 ($34.6m) and 13.2 per cent behind the $40.9m reported in December 2022. Online sports betting generated $35.4m and retail sportsbooks $106,592.
Player spending was $547.2m, down 4.6 per cent from the $573.7m in the same month in 2022 but 5.6 per cent ahead of $518.1m in December 2022. Of this total, $542.2m was spent online, while $4.9m was wagered at retail sportsbooks.
The most popular sport for betting was basketball with $178m in bets across online and retail. Football betting amounted to $122.2m and college football $50.2m. Players won $511.7m from betting on sports, while Colorado collected $2.6m in tax.
In January, two Colorado tribes are requesting a change in sports betting laws. The chairmen of Colorado’s two Native American tribes, the Ute Mountain Ute and Southern Ute tribes, asked the legislature why they were “left out” of the legislative conversation in 2019.
According to the chairmen, the tribes’ casinos – the Ute Mountain Casino Hotel in Towaoc and the Southern Ute Sky Ute Casino Resort in Ignacio – allow in-person sports betting, but they are unable to offer online sports betting as other casinos do.
Colorado regulator approves responsible gaming grant
The Colorado Limited Gaming Control Commission has approved its first Responsible Gaming Grant. At its latest meeting, the regulator approved $1.57m in funding for educational programmes, counselling, research, advocacy efforts and support services.
Five project awards were given to three organisations: the Kindbridge Research Institute, the Massachusetts Council on Gaming and Health and the Problem Gambling Coalition of Colorado. The projects will include gambling counsellor training, a social marketing campaign and a new problem gambling centre in Colorado.
