The State Division of Gaming reported that Colorado sports betting handle dropped 13 percent in June to $313.2 million month over month. However, it was a 44 percent increase from the same period in 2021. According to bookie software reports, the betting earned $12.4 million for the fiscal year. It was a 53 percent increase from the last fiscal year.
In June, baseball took the top spot with $106 million in total bets. It was 35 percent higher than in the last two months. In addition, basketball got $44 million in wagers. In third place is hockey with $29 million. Tennis came in fourth with $23 million. Lastly, soccer got $10 million in bets for the month.
According to sportsbook PPH sources, the June betting report showed that people enjoyed live betting in June. In addition, the top three sports are ideal for live wagering. Thus, Colorado players love betting on sports while games are ongoing.
Colorado Sports Betting Handle
Sources credit the significant hockey increase to the Colorado Avalanche winning the Stanley Cup finals. Avid fans were invigorated by the group’s run, which may intensify regarding the Broncos and the expectations of a Super Bowl run.
Online sports wagering remained the primary source of bets in the state. Only $2.8 million came from retail outlets. Thus, you need to know mobile betting when you learn how to open a sportsbook.
While Coloradans appreciated one of their best wagering months, it was a bad month for the sportsbooks and coffers. Bookies earned 2.1 percent of the wagers, which was the worst this year. Also, their net sports betting proceed was almost negative $2 million.
Colorado gathered more than $268,000 in revenue from sports wagering bets in June. But unfortunately, that is an 83 percent downfall from tax revenues in May 2022.
The most recent figures come after a new statewide review found that Colorado’s games wagering controllers need effective cycles to manage the filings from casinos and sportsbooks.