Colorado sports betting sets new revenue handle for 2024-25
Players wagered $6.3bn in the last fiscal year.
US.- The Colorado Division of Gaming has reported that the state’s sports betting wagers and taxes set new records in fiscal year 2024-25. Players wagered $6.3bn, $287m more than in the previous year and 130 per cent more than in the first full fiscal year of sports betting in Colorado, in 2020-21.
Taxes reached a record $37m, surpassing last year’s previous high by $6.4m. Sports betting tax revenue is used for water conservation and protection projects, supporting the Water Plan Grant Program administered by the Colorado Water Conservation Board.
Colorado Division of Gaming director Chris Schroder said: “These record-breaking numbers are great for the industry and for the State of Colorado. Each dollar raised helps us protect Colorado’s vital water resources, both today and for future generations, while also reinforcing our commitment to responsible gaming practices that ensure a safe and enjoyable experience for all participants.”
Hard Rock Bet recently launched in Colorado, its ninth US state. It’s the first sportsbook operator to launch in Colorado since January 2024. The state now has 13 online sportsbooks.
