The growth trend for Colorado’s legal sports betting industry continues to move upward. Sportsbooks in the Centennial State brought in more than $231.2 million in wagers in November, the best month yet since sports betting debuted in the state in May.
Colorado sports betting revenue figures released by the Colorado Division of Gaming Tuesday showed a 9.7% increase in overall betting handle from October to November. NFL betting drove the Colorado market, as pro football bets accounted for 38.3% of wagers.
The state saw a decline in net proceeds (revenue minus promos and other deductions). Net proceeds for November came in at $8.977 million for November, down 6.9% from October.
November’s net sports betting proceeds resulted in $824,700 in tax revenue for the state. Colorado sportsbook experienced an 7.94% hold on the record-setting November handle.
Success For Colorado’s Mobile Sportsbooks
Mobile sports betting accounts for the majority of handle and revenue in every US state that offers legal online sports betting. That trend comes through in Colorado more significantly than any other state.
Online betting accounted for 98.1% of overall betting handle in Colorado in November. Retail sports betting is limited to three small mountain towns, as well as tribal territory in the southwest part of the state.
All bettors in Colorado age 21 and over can bet from anywhere in the state using legal mobile sports betting apps. Since the May 1 launch of online sports betting, 16 different mobile sportsbook apps have debuted in Colorado.
Just about all of the biggest names in the US sports betting industry offer mobile wagering in Colorado. Some of the top sportsbook apps in the state include DraftKings Sportsbook, FanDuel Sportsbook, BetRivers, BetMGM, and SportsBetting.com.
Be sure to take a look at ColoradoSharp.com for listings of all available mobile sportsbooks in the state, as well as bonuses offered by each.