Colorado Sports Betting Set Revenue Records in September

“As goes the Broncos, so goes gaming revenue in Colorado.”

That’s what sportsbooks and state officials might be saying as Colorado once again broke a record in September with more than $400 million in sports wagers. That tremendous activity led to $483,048 in taxes to the state.

The gross gaming revenue (GGR) for September was $22.6 million, the second-highest total ever, behind only January when the Super Bowl boosted sports betting revenue.

Colorado Sports Betting Still Growing

The Broncos got off to a strong start to the 2021-22 NFL season, winning all three of their games in September. The team has cooled off since and enters next week’s matchup against the Cowboys in Dallas with a 4-4 record.

Colorado has seen a steady growing trend in revenue from gaming since it launched early in 2020. In 10 of 17 months on record, the state has posted a record-high handle. September’s total was $408 million, almost double the figure of $211 million in August.

Football season is the most popular time of year for sports bettors and by far the biggest moneymaker for sportsbooks. According to the Colorado Division of Gaming, the NFL fueled the record month, accounting for $125.8 million in wagers, while college football attracted $46.9 million.

Breaking Down The Numbers

In total handle, pro and college football took in more than MLB (68.7 million), the NBA ($16.3 million), professional tennis ($16.3 million), soccer ($13 million), and table tennis ($11.1 million) combined. With the NBA and NHL season now in full swing, sports wagering will likely increase in the coming months in Colorado.

Gaming revenue in September climbed to $22.7 million, up a whopping 444% from the September 2020 numbers. The industry took in nearly $20 million in promotional bets, which led to net sports betting figure of $1.8 million. That total is taxed and tax revenues are paid to the State of Colorado to fund public programs.

Overwhelmingly, bettors prefer to place bets online and through mobile apps. In September, of the $385.6 million paid out to bettors on sports wagering in Colorado, $380.4 million was made through mobile and online sportsbooks.

The complete September Colorado Sports Betting Proceeds report from the Colorado Division of Gaming is available online, and you can see all past monthly reports on their website.

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