Colorado April report: Sports betting handle reaches $509m
The state generated $32m in April revenue.
The Colorado Division of Gaming has released its sports betting numbers for the month of April. The regulator serves as part of the Colorado Department of Revenue (CDOR).
For the past eight months, the state has posted sports wagering handles that have surpassed the $500m mark. April proved to be no different, bringing in more than $509m in sports betting handle.
Online sports betting raked in close to $475m of April’s total handle, while retail locations took another $2.5m in bets.
Colorado players walked away with a bulk of the winnings during the month. Of the total handle, players took home more than $477m in April wins.
Basketball was the sport of choice for Colorado players during April. State residents bet more than $169m on basketball during the month. Other heavy hitters included parlays and baseball, which raked in bets totaling $105m and $85.8m respectively.
During April, sports betting generated more than $32m in revenue. However, results during the month showed a decrease in revenue when compared to April 2023’s results. Total April revenue dropped by 8.9% year-over-year.
The state collected more than $1.9m in taxes for the month.
Total wagers placed so far this year have reached $2.24bn, reflecting an 18.7% boost when compared to bets placed during the same period last year. This total includes bets that were made during the month of April.
Colorado welcomed its commercial legal gambling market more than four years ago. Since the US Supreme Court overturned the national ban on legalized sports betting in 2018, more than 35 states have set up regulated sports wagering markets within their borders.
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