Colorado sportsbooks earn record January revenue of $23m; handle tops $327m
Colorado sportsbooks started 2021 strong with January revenue of $23.1m, a new record for the Centennial State.
Revenue was up 34% from December’s haul of $17.2m.
Monthly handle grew to $327m, also a record. Approximately 98% of Colorado sports wagers ($319m) were placed online last month, while retail generated another $7.1m. Handle grew 15% from the month prior.
The state collected $1.2m in January taxes, a 125% increase from December 2020.
Through January, Coloradoans had placed $1.5bn on sports wagers since its May 2020 launch.
Professional basketball produced $88m in handle last month, spurred on by the Denver Nuggets’ strong start to the NBA season. NBA and NCAA basketball combined to give the hardwood a 27% share of all January sports wagers.
The NFL generated another $75m in handle, including nearly half ($3.3m) of all retail wagers. NFL’s strong retail presence likely had to do with sports fans attending sportsbooks to watch playoff games.
The NFL together with NCAA football gave the gridiron a 23% share of sports wagers.
In a bit of an upset, table tennis ($11.8m) edged out hockey ($9.6m) as the third most wagered on sport. Parlays produced $16m, or 53%, of monthly wagers.
Colorado does not release sports betting figures by operator.
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