Colorado August Handle Up 36.9%

Colorado operators saw $290.1 million in total handle for the month of August, a 12% increase from the prior month. Compared to August of 2021, the total handle has increased 36.9%.

This pushes Colorado into a small group of states that have had over $8 billion in handle since launching operations in 2020. The group includes New Jersey, Nevada, Pennsylvania, Illinois, New York, and Indiana.

Colorado is also one of seven states to surpass $3 billion in handle for the calendar year, though more states will join that group during football season.

Taxes collected by the state in August totaled $1.8 million. This is a 66.8% increase from the prior month and a 150% increase from the prior year. The Colorado Division of Gaming recently distributed taxes from 2021 to a variety of funds.

Taxes collected in 2022 will be distributed next year following the new guidelines set in the Responsible Gaming Act.                                

Baseball and Parlays Bring in August Handle

In August, baseball drew the most bets as playoffs drew closer: Coloradans wagered $117.8 million on the sport. The $117.8 million in handle marked the fourth record-breaking month for wagers on baseball. This brings the total baseball handle in the state just $7.9 million shy of reaching $1 billion in total handle.

Parlay wagering outperformed all other sports in the state for the month of August. Parlay handle reached $52.7 million, and revenue totaled $5.7 million. Major online sports betting operators have put an emphasis on same day parlay bets. With 99% of Colorado’s betting happening online, most bettors are being offered parlay options.

Tennis and football rounded out the top three performers in sports, falling far behind baseball for the month. Tennis saw $29 million in wagers as fans focused on the US Open. Pre-season football brought in $21.5 million in wagers. Basketball and soccer rounded out the group, with $20.2 million and $18.9 million in wagers, respectively.

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