Revenue improved in the Centennial State even as handle fell month-on-month to $230m, a 7.7% decrease from May. Colorado sports bettors wagered an average $7.7m per day in June compared to $8m in May.
Net sports betting proceeds for the month came out to $11.7m, which generated the state $1.2m in tax revenue, the second-highest ever for Colorado since launch legalized sports betting in May 2020.
Once again, online wagers dominated the marketplace, accounting for $227m, or 98.7%, of all bets.
Colorado has seen new operators join the market in recent months, including Bally’s Bally Bet mobile app, which debuted in late May. On the retail side, SuperBook debuted its sportsbook at The Lodge Casino in Black Hawk.
Colorado’s sports betting market will soon have another competitor, as 888Holdings is partnering with sports magazine Sports Illustrated for the SI Sportsbook, set to launch this fall.
With football season out of the picture, Colorado’s sportsbooks had to rely heavily on basketball in June. The NBA was responsible for $74.9m of the bets placed in June. Colorado was propped up by a Denver Nuggets NBA playoff run, which concluded on June 13.
Baseball produced $54.6m in June wagers, followed by soccer ($12.7m), tennis ($12.3m), and hockey ($10.7m). Table tennis maintained its popularity, bringing in $8.7m in handle.
Colorado should be in line to benefit from the MLB All-Star Game played in Denver on July 13. The state’s July handle will also be propelled by Olympic sports.
