Colorado breaks sports betting record with $28.6m in revenue for October
The region fell short of becoming just the fifth state to generate $500m in monthly handle, bringing in $491m.
October marks another record-breaking month for the State of Colorado in terms of sports betting. Boosted by five full weeks of NFL and collegiate football, the Centennial State marched to a sports betting handle of $491m and, for the second consecutive month, record revenue of $28.6m.
Despite falling short of becoming the fifth state to raise $500m in monthly handle, this reportedly marks the most profitable month for the state since its original launch.
Specifically, online and retail sportsbook handle grew by 20.4% when compared to the $408.3m raised in September, which was also a record. According to the Colorado Division of Gaming, online betting accounted for the vast majority of handle, raising $483.3m, a 133.2% year-on-year increase.
NFL and college football were the biggest draws for bettors in October, bringing in $232.4m in combined wagers. Basketball saw impressive numbers too, coming in at $63.3m, followed by baseball, soccer and tennis with $37.4m, $15.9m, and $14.1m respectively. Hockey and table tennis concluded this list with $13.2m and $10.3m in handle.
Gross gaming revenue (GGR) grew to a record $28.6m, increasing from $22.7m in September, a 64.4% boost from the prior year.
Like much of the nation, Colorado has seen a boom in sports betting in the last two years. Indeed, 2020 saw FanDuel, DraftKings, BetMGM and BetRivers go live in the state.
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