Soccer Not King Of Colorado Sports activities Betting At Finish Of Third Yr

Colorado sports activities bettors spent $417.8 million in April, capping off the third yr of authorized sports activities betting in a state the place the nation’s most-popular recreation shouldn’t be the betting champion.

Whereas it’s a 15.5% lower in betting deal with from March ($494.4 million), it’s a 6.5% enhance from the identical month final yr ($392.3 million.) Sportsbooks posted an 8.4% win charge in April, producing $35 million in CO sports activities betting income. Colorado acquired $2.58 million in sports activities betting taxes.

In response to figures recently Friday by the Colorado Division of Gaming, sportsbooks dealt with $136.6 million in April basketball bets. Baseball was subsequent with $88.4 million in bets. Colorado is likely one of the few states that breaks down deal with by sport.

Fiscal yr deal with and taxes rise

Colorado sports activities betting deal with is $4.48 billion this fiscal yr to this point, an 8% enhance over final fiscal yr ($4.14 billion) up to now.

The Centennial State collected $23 million in taxes throughout that point, a 118% enhance in comparison with 2022 ($10.5 million.)

The state fiscal yr runs from July 1 via June 30.

CO sports activities betting hits fourth yr

Authorized sportsbooks in Colorado launched in Might 2020. After 36 months, sportsbooks dealt with greater than $12 billion in bets and produced $817 million in income.

In response to additional figures recently released by the Colorado Division of Gaming, the state additionally acquired $43.8 million in tax income between Might 2020 and April 2023.

In total month-to-month deal with, Colorado persistently performs as a prime 10 US sports activities betting market. In response to LSR information, in 2022, it ranked third in per-capita betting at almost $889 per particular person.

Hottest markets in Colorado sports activities betting

NBA basketball is the game of alternative for bettors, with almost $3 billion in bets over the past three years. NFL betting was the second-most common, with sportsbooks dealing with $1.9 billion in soccer bets.

Between November 2022 and January 2023, sportsbooks dealt with $468 million in basketball bets, in comparison with $394.5 million in soccer. Throughout what is often the peak of the NFL betting season, Colorado sports activities bettors spent $73.5 million extra on basketball.

Baseball betting deal with reached $1.2 billion throughout Colorado’s first three years of sports activities betting. No different sport reached $800 million in deal with throughout that point.