Colorado reports February handle of $440.5m
Wagers placed during Super Bowl LVI were 31% higher than the year before.
The Colorado Division of Gaming had published its sports betting figures for the month of February. The state reported a total handle of $440.5m for the month.
Though Colorado’s February numbers reflected a decline from its figures in January by 23.2%, the state showed an increase of 65.3% in its handle from February 2021.
January’s handle reached nearly $574m.
The report also reflected strong numbers for wagers placed statewide. The state experienced an 89.1% rise compared to the previous period in the total wagers placed during the current fiscal year, which includes July 2021 to January 2022.
The Super Bowl accounted for many of the wagers placed during February. Bets placed on the Big Game this year represented a 31% rise in activity from last year’s game and brought in almost $41.1m in wagers.
Professional basketball grabbed the top spot in a breakdown of wagers placed by sport, yielding a total of $155.6m. NCAA basketball came in a distant second with $68.2m in wagers.
Fans wagered $31.4m on professional football, $24.1m on ice hockey and $18.9m on soccer.
The state reported a decline in taxes collected during the month of February. The total in taxes collected came to $314,731, decreasing by 78.26% from the previous month.
Fiscal year taxes increased by 92.3% from the same period last year, with a running total of nearly $8m to date. FYTD taxes collected during the same time last year were about $4.1m.
Legal sports betting has been live in Colorado since November 2019. Colorado is among the 30 states nationwide where online sports wagering is legal.
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