The latest monthly revenue report from the Colorado Department of Revenue reveals that sports betting activity in Colorado dropped by 21% as gamblers placed $181.3 million in wagers throughout the month of July. This is the second month in a row that sports betting activity dropped and the first month of 2021 that total wagers dropped below the $200 million mark.
Baseball has taken over from basketball as the most popular sport among Colorado gamblers with the sport attracting $61.7 million in wagers—more than double the wagers placed on basketball.
While soccer and tennis drew in wagers of $13.9 million and $12 million respectively, table tennis is a surprisingly popular choice with local gamblers. The sport attracted $8.6 million in wagers during July and averages more than $8 million each and every month.
Retail sports betting accounted for just over 1.2% of the state’s overall betting activity as bricks and mortar sportsbooks took in just $2.2 million in wagers. Although the overall sports betting handle dropped significantly, retail betting only dropped by $400k+. Mobile sportsbooks reported $179.1 million in wagers for the month—almost $48 million less than in the previous month.
Players’ winnings amounted to $165.6 million for the month of which $163.7 million was paid through mobile sports betting apps while $1.96 million was paid out via retail sportsbooks.
Gross gaming revenue (GGR) for the month totaled $15.6 million down 21% on June’s GGR of $19.7 million. This resulted in net sports betting proceeds of $9.6 million and just under $1 million in taxes for the state.