Colorado’s sports betting handle increased 65% year-on-year in February

Consumers in Colorado wagered $440.5m on sports in February, up 65.3 per cent year-on-year but the lowest handle since September.

US.- Colorado’s sports betting handle in for February was up 65.3 per cent year-on-year at $440.5m (February 2021: $267m). However, the handle was the lowest since September 2021 and significantly lower than the all-time high of $574m set in January.

With $155.6m in bets, professional basketball was again the most popular sport among Colorado bettors. In second place came college basketball at $68.2m followed by American football at $31.4m.

Football, or soccer, saw the biggest growth in handle, with $18.9m wagered in February, representing an increase of almost 200 per cent. Of the total handle for the month, $434.9m was bet online, while the remaining $5.6m was spent at retail sportsbooks.

The Colorado Department of Revenue reported that gross gaming revenue amounted to $19.6m, 88.5 per cent higher than $10.4m in February 2021 but 43.4 per cent lower than the $34.6m reported in January this year.

Players won $420.9m from sports betting, while the state collected $314,731 in sports betting taxes.

See also: Colorado sports betting handle reaches almost $4bn in 2021