Colorado sportsbooks report April handle of $244m
Colorado April sports betting handle was $244m, a 19% decrease from March.
The drop in handle follows the national trend of fewer wagers in April compared to March, reflecting a slower period of the American sports calendar.
Gross gaming revenue was $17.6m, down 14% from March.
Once again mobile wagers dominated handle, accounting for 99%, or $242m, of wagers. Mobile handle was down 18% from the prior month.
The total hold in April was 7.2%, compared to 6.8% in March.
More than a third ($84.3m) of wagers were placed on basketball. Colorado sportsbooks are banking on a deep playoff run by the Denver Nuggets, who are playing the Portland Trail Blazers in the first round of the NBA Playoffs.
MLB’s Colorado Rockies pushed baseball to $48.3m, while the NHL’s Colorado Avalanche helped bring hockey handle to $10.6m.
Table tennis maintained fourth place in wagers with $9m, edging out soccer ($8.7m) and tennis ($8.1m). Parlay wagers amounted to $43m.
Colorado does not report individual sportsbook figures.
The Centennial State recorded $2.3bn in wagers in its first year of sports betting, which launched on May 1, 2020.
“The first year of sports betting exceeded our expectations, especially after we launched amid a worldwide pandemic that shuttered the casinos, the industry, and Colorado,” said Dan Hartman, Division of Gaming Director. “Looking back on a year ago, I don’t believe any of us expected to be where we are with our numbers and our operations. Colorado is setting the benchmark for what a healthy, regulated legalized sports betting market can look like in the United States, and we will continue to be known for our regulatory leadership.”
Colorado collected $6.6m in taxes from sports betting in its first 12 months.
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