- Colorado sportsbooks saw a 16.9% increase in betting handle in August.
- Sports betting revenue saw a slight drop month-over-month.
- The sports betting industry has surpassed the $3 billion mark since its launch in May 2020.
DENVER – Sports betting in Colorado has seen a slight increase in activity ahead of NFL betting. Sportsbooks reported 16.9% more in betting handle for August month-over-month.
Mobile sportsbook platforms remained the primary way residents got in on the action in Colorado, with more than 95% of total wagers being made with online sportsbooks.
Colorado’s sports gaming industry has been nothing less than successful since its launch back in May 2020. Over $3.2 billion has been wagered on sporting events since the opening of the market.
Colorado Sportsbooks Spike
The Colorado Department of Revenue reported $211,918,184.51 wagered on sports in August. This spike came ahead of the NFL betting season, where handle is expected to see an even bigger boom.
Sports betting revenue did not see such a spike, however, as July collected around $15.7 million, while $15,228,343.28 came in for August.
The state saw $726,365.67 in taxes from gambling in Colorado, which was also down slightly month-over-month, but still saw a solid 7.19% hold rate.
Mobile Sports Betting Dominates
Colorado residents continue to choose online gambling to bet on sports. Mobile sportsbooks saw $208,271,236.89 in wagers compared to just $3,646,947.62 bet with retail operations.
The main sport that operators saw wagers placed on was baseball. With the MLB getting closer to the postseason, 32.8% of all bets were placed on their games.
As the NFL season is now upon us, it is expected that most of the action will be coming from football bets. Football saw only 6.4% of total wagers in August.
Those wagering on sports in Colorado are expected to be more active during NFL season. Colorado saw its record-setting months come during the 2020-2021 NFL season.
As online sportsbooks continue to dominate the market and NFL wagers open, Colorado is set to shatter the $3 billion collected in its first full year of sports betting operations.