Colorado Sports Betting Sets All-time Revenue Record for Month of November

by Natasha Lyndon - Wednesday, January 5th, 2022 11:31

NBA sports betting
Return of the NBA pushed sports betting revenue to all-time record

The latest monthly revenue report from the Colorado Department of Revenue has revealed that the state’s licensed sports betting operators took in over $475.4 million in wagers throughout the month of November.

The latest figures mark a drop of 3.25% from October’s record-breaking sports betting handle of $491.4 million.

Pro football once again proved to be the most popular wagers at Colorado sportsbooks accounting for 29.5% of all sports betting activity as gamblers wagered over $140.3 on the NFL. Basketball followed closely behind with over $124.6 million wagered on the NBA. This was a significant increase on the $63.3 million wagered in the previous month as the league returned to a full schedule.

Betting on NCAA football and NCAA basketball dropped for the month with both sports each attracting just over $29 million in wagers. Meanwhile, ice hockey pulled in $13.9 million during November.

Retail sportsbooks accepted over $6.4 million in wagers, down almost 21% from the previous month. Mobile sports betting, on the other hand, accounted for 98.65% of all bets as online sports betting operators reported accepting just over $469 million in wagers throughout the month.

Winnings for players totaled $438.6 million with $432.4 million of that figure paid through mobile sports betting apps. Meanwhile, retail winnings amounted to $6.2 million for the month.

Despite a lower overall handle, gross gaming revenue (GGR) for the month of November totaled $36.8 million, up 28.6% on the previous month’s figure. As a result, state taxes amounted to $1.98 million. Both GGR and state taxes are the highest ever recorded in a single month since sports betting launched in Colorado.

Natasha Lyndon

Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.