The Colorado Department of Revenue has released its latest monthly revenue report showing that operators reported a sports betting handle of $229,764,688.29 for the month of June. The latest figure marks a drop of 7.71% on May’s handle of $248,968,193.35.
Basketball continues to be the most popular sport with Colorado gamblers placing $74,884,932.58 in bets on the sport in the month of June representing a 32.5% share of the overall handle. Baseball was the next most popular sport attracting $54,554,496.18 in wagers while soccer and tennis each attracted just over $12M.
Table tennis continues to draw in local gamblers who placed $8,678,789.25 in bets on the sport, more than Golf and UFC/MMA combined. Although it was still almost $2M less than May’s table tennis betting handle of $10,253,385.46.
Mobile sports betting accounted for 98.8% of the total handle as online sportsbooks took in $227,074,256.52 in bets throughout the month, a drop of 7.8% on May’s online handle of $246,488,626.35. Retail sportsbooks accepted $2,690,431.77 in wagers up slightly from May’s retail handle of $2,479,567.00.
Payments to players amounted to $210,033,730.89 for the month of which $207,539,244.63 was paid through online betting accounts with $2,494,486.26 paid out through retail sportsbooks.
Despite a lower overall handle, gross gaming revenue for the month increased from $15,154,760.58 in May to $19,730,957.40 in June. This resulted in net sports betting proceeds of $11,703,973.60 and $1,186,454.81 in taxes for the state.