Another month for Colorado sports betting, another record when it comes to handle.
Colorado sportsbooks are now the sixth to reach $225 million in handle. The state brought in $231.2 million for the month of November, according to numbers released by the state’s Department of Revenue on Tuesday. That’s a 9.7% increase over the $210.7 million in October wagers.
In November, the state also collected $793,820 in taxes from sports betting operators. That’s a small dip from the $824,700 in October but still significantly higher than the $69,772 in September.
The record wagering generated record revenue, too.
Operators took in $18.4 million in gross gaming revenue, up 5.5% from the $17.4 million in October. Colorado sportsbooks have now produced $58.7 million in gross revenue since launching, and $35.8 million of that has come in the last two months.
And nearly all of November’s wagers were made digitally as well. Online sportsbooks attracted $226.8 million, or 98.1% of the month’s handle. That is up from $206.4 million, or 98%, of October’s wagers.
As Dan Hartman, director for the Colorado Division of Gaming, said in the release:
“The positive response by Coloradans to sports betting continues to bring voter-intended results. That means good things to come for the beneficiaries.”
What sports did Colorado wager on?
The NFL was overwhelmingly the most popular bet, drawing in $88.5 million in wagers. That is up from $68 million in October.
Spurred by the return and undefeated start to the season for the University of Colorado football team, bettors placed $22.3 million on college football, up from $16.5 million in October.
And proving yet again that Colorado just can’t quit table tennis, the sport remains in the top five. Russian table tennis took $12.4 million in bets, up from $9.3 million.
Here’s the top five sports for November.
- NFL $88.5 million
- NCAA football $22.3 million
- Table tennis $12.4 million
- Basketball $9.7 million
- NCAA basketball $8.3 million
|Wagers by sport||Total handle||Online handle||Retail handle||Revenue (GGR)|
Colorado comes in at sixth
Despite the record numbers for Colorado sports betting in November, the state will likely come in at sixth for the country.
That will put the Colorado market behind New Jersey, presumably Nevada (the state will release November data later this month), Pennsylvania, presumably Illinois (data expected to be released in January), and No. 5 Indiana, which produced a state record $251.4 million in November.