Colorado Sportsbooks Achieve Record Revenue in November

Record-Breaking Revenue Despite Handle Dip

Colorado sportsbooks handled a total of 647,951,807 in wagers during November, making it the second-highest month on record, just behind December 2023’s 717,430,270.

However, while the handle was impressive, the gross sportsbook revenue reached an all-time high of 55,666,475.

This resulted in 3,958,611 in tax revenue for the state, with sportsbooks enjoying a strong hold percentage of 8.60%.

The vast majority of the handle, 99.40%, was generated through online sportsbooks.

NFL and Parlays Dominate Betting Landscape

Colorado’s sports bettors continued to favor the National Football League (NFL) and parlay bets.

While the NFL remained the most popular sport, there was a slight dip in its monthly results, suggesting that bettors are exploring other sports and leveraging parlay bets across multiple sports.

Basketball followed as the second most popular sport, with NCAA Football and NCAA Basketball also contributing to the overall handle.

Detailed Per-Sport Breakdown

The NBA saw a significant increase in betting handle, reaching 148.4 million in November, up from 82.4 million in October.

NCAA Football also saw a slight increase, bringing in 43.5 million, compared to 42 million the previous month.

However, NCAA Basketball experienced a decline, generating 29.8 million, down from 37.7 million in November 2023.

Other sports also contributed to the overall handle, with MMA at 3.2 million, golf at 885,000, table tennis at 17.2 million, ice hockey at 16.5 million, and soccer at 20.6 million.

Tennis saw a decrease, generating 23.5 million compared to $41.4 million in October.