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.