The Centennial States handle stayed below $300 million, but it did increase along with the hold and revenue compared to the previous month.<\/p>\n
Last Updated: Oct 6, 2022 11:29 AM ET Read Time: 3 min <\/p>\n
August gave Colorado sports betting the return of (preseason) football, but Coloradans didn't really seem to care.<\/p>\n
Colorado's Department of Revenue announced that operators accepted $290.1 million in wagers for the month of August up 12.3% from Julys $258.4 million mark but still down from June's $313.2 million in tickets.<\/p>\n
Colorado'slegal sports bettingdid see a strong 36.9% year-over-year increase from August 2021.<\/p>\n
The 8.9% hold for sportsbooks, combined with the increase in bets gave the state a hefty boost in tax revenue the $1.8 million in sports betting revenue tax was a 66.8% increase over the previous month, with the year-over-year even better as August's tax jumped 150%.<\/p>\n
Colorado funnels sports betting tax dollars into the states Water Implementation Cash Fund.<\/p>\n
While July left Coloradans to bet on the last-place Rockies, as the NFL, NHL, and NBA started prepping for the regular season, August brought in the beginning of the Russell Wilson era for the Denver Broncos.<\/p>\n
However, even with the ability to bet on preseason football, baseball remained the top sport. More than 40% of all tickets were on America's pastime, with tennis remaining in the second spot with 10% of wagers.<\/p>\n
Football came in third with 7.4%, barely beating out non-NBA basketball, which garnered 7% of Augusts bets.<\/p>\n
College football, which only had Week 0 and featured no teams from the Centennial State, came in at 1.5%.<\/p>\n
August's 8.9% hold is the highest this year and it was an even less successful venture for in-person bettors.<\/p>\n
Brick-and-mortar sportsbooks enjoyed a 25.1% hold, compared to 8.7% foronline sportsbooks. Football fans took the brunt of the losses with sportsbooks paying out just 41% of their pro football handle and 20% of their college football handle.<\/p>\n
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Colorado Sports Betting: Numbers Increase in August - Covers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Centennial States handle stayed below $300 million, but it did increase along with the hold and revenue compared to the previous month. Last Updated: Oct 6, 2022 11:29 AM ET Read Time: 3 min August gave Colorado sports betting the return of (preseason) football, but Coloradans didn't really seem to care Continue reading