Colorado sports betting revenue slips to six-month low in February

Sports wagering revenue in Colorado amounted to $19.6m in February, the state’s lowest monthly total since August 2021.

Gross gaming revenue from sports betting was 88.5% higher than $10.4m in February 2021 but was 43.4% lower than the $34.6m reported by the Colorado Department of Revenue in January this year.

Official figures also showed $19.6m in revenue was generated from online sports betting, while retail sportsbook posted a loss of $36,124 for the month.

Turning to handle and consumers wagered a total of $440.5 on sports in February, up 65.3% from $266.5m last year, but 23.2% behind the record $573.5m spent in January this year.

Some $434.9m was bet online during the month, while the remaining $5.6m was spent at retail sportsbooks.

Professional basketball was again the most popular sport among Colorado consumers, drawing $155.6m in bets, ahead of college basketball on $68.2m and American football at $31.4m.

Players won $420.9m from sports betting, while the state was able to collect $314,731 in sports betting taxes.

Original Article