The latest monthly revenue report from the Colorado Department of Revenue has revealed that the state’s licensed operators posted a combined sports betting handle of $248,968,193.35 for the month of May. This marks a slight increase of just under 2% on April’s handle of $244,446,760.46.
Basketball remains the highest revenue driver for legal sportsbetting in Colorado with a handle of $86,905,262.86 representing a 34.9% share of the total handle and generating revenue of $5,375,652.93 for the state’s sportsbooks. Baseball was the next most popular sport attracting $49,058,251.68 in total wagers.
Online sportsbooks once again led the market with a combined handle of $246,488,626.35 representing a 99% share of total wagers placed in the month of May. This was marginally better than April’s online handle of $241,919,886.32. Online payouts totaled $231,544,359.67 resulting in revenue of $14,944,266.68.
Retail sportsbook posted an overall handle of $2,479,567.00 down slightly from the previous month’s handle of $2,526,874.14. Retail payouts to winners came in at $2,294,725.56 resulting in monthly revenue of $210,493.90
The overall win percentage of 6.08% was down slightly on April’s win percentage of 7.19% resulting in total gross gaming revenue (GGR) of $15,154,760.58 yielding $635,640.65 in taxes for the state. This was a significant drop from the $1,082,610.56 paid in the previous month.
Image credit: Al Case / CC BY-NC-ND 2.0