According to the latest monthly revenue report from the Colorado Division of Gaming, the state’s licensed sports betting operators reported accepting $306 million in wagers during the month of August.
The latest figures represent an increase of 8.85% on the $281.1 million wagered in July and 5.5% compared to the same period in 2022.
Sportsbooks reported that baseball continued as the most popular sports as bookmakers accepted $105.5 million in wagers on the MLB throughout August. The next most popular sport was tennis with $29.8 million in wagers while basketball pulled in $26.3 million in bets.
The Colorado Department of Revenue reported that gross gaming revenue (GGR) from sports betting for the month of August was approximately $25.8 million, roughly the same figure as August 2022 and a 3.06% increase on July’s figure. Sportsbooks reported a combined win percentage of 8.45%. Total net sports betting proceeds amounted to $18.6 million.
As a result, sportsbooks paid $1.8 million in taxes to the state, the same amount as August 2022.
Novig Issued Sports Betting License
Earlier this month, commission-free sports betting exchange Novig received a sports betting license from the Colorado Division of Gaming. The company will now partner with Full House Resorts’ Bronco Billy’s Casino ahead of its online launch.
While Novig is classed as a betting exchange, it will operate solely as a sportsbook until exchange betting is allowed in the state of Colorado.
Jacob Fortinsky, Founder & CEO said following the news:
“We have entered a 10-year market access partnership with Full House Resorts and its Bronco Billy’s Casino property in Cripple Creek, CO. When we go live, NFL, NBA and MLB will be available. Customers will be able to place bets on the Moneyline, Point Spread, Game Totals, and Team Futures, both pre-game and in-game.
Once Novig launches, there will be 20 online Colorado sports betting operators.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.