Colorado Sports Betting Handle Reaches $648.4 Million in December
Colorado’s sports betting market remained steady in December 2024, with a total handle of $648.4 million. This marked a 0.07% increase from November, though it was 9.49% lower than December 2023.
December Betting Trends
While the overall handle showed minimal change from the previous month, tax revenue saw a sharp drop. Colorado collected $1.49 million in taxes, a 62.4% decrease from November and 59.57% lower than December 2023.
However, since the start of the fiscal year, total handle has grown by 5.82%, reaching $3.15 billion, while tax revenue increased by 9.81%, totaling $16.7 million.
Top Sports for Betting
Football remained the most popular sport among bettors, while basketball and parlay bets also contributed significantly. The leading betting categories in December were:
- Pro Football: $2.08 million in total wagers
- NBA: $758,825
- NCAA Basketball: $438,182
- NCAA Football: $25,282
- Parlay Bets: $910,772
- Other Sports: $424,296
A breakdown of retail and online betting showed that online sportsbooks dominated the market, consistent with national trends.
Christopher Schroder, Director of Gaming in Colorado, acknowledged the fluctuations in monthly revenue but emphasized the state’s long-term growth.
“As Colorado continues to see tax revenue grow year over year and sports betting expands, the Division of Gaming remains committed to promoting responsible gaming practices, ensuring a safe and fair environment for all participants, and upholding the integrity of the industry,” said Schroder.
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