Another Stellar Month as Colorado Sets an All-time Sports Betting Record in October

by Olivia Richardson - Thursday, December 2nd, 2021 10:15

NFL sports betting

The Colorado Department of Revenue has released its latest monthly revenue report revealing that the state’s licensed sportsbooks took in $491.4 million in wagers during the month of October.

October’s sports betting handle marks a 20.35% increase on September’s handle of $408.3 million and is the highest amount wagered in a single month since sports betting launched in the state.

Wagers on pro football increased significantly as the season got underway with local gamblers placing over $171.2 million in bets on the NFL, up from the $125.7 million wagered in the previous month. Basketball was the next most popular sport as sportsbooks reported accepting $63.3 million in wagers during the month. October also saw NCAA football attract $51.9 million in bets pushing baseball down into fourth place in the rankings.

Retail sportsbooks reported accepting $8.1 million in wagers, up 47.3% from the previous month. Meanwhile mobile sports betting accounted for 98.4% of all betting activity as online operators accepted $483.3 million in wagers.

Player’s winnings during the month of October totaled $462.8 million with $455 million of the overall total paid online while winnings at retail sportsbooks amounted to $7.75 million.

Gross gaming revenue (GGR) for the month came to $28.6 million up 26.5% from the previous month. A win percentage of 5.82% resulted in net sports betting receipts of $9.8 million, up significantly from the $1.8 million reported in September. As a result, state taxes from sports betting amounted to $1.2 million, 158% increase on the previous month.

Olivia Richardson

Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.