Colorado Sets Record in Sports Gambling Tax Collections

The return of professional and college football season meant big yields for the state of Colorado.

The Colorado Division of Gaming released the September 2022 monthly sports betting figures, which showed the state broke the record for most sports gambling tax dollars collected in one month. The $2.98 million was a 518.9% increase in taxes from September 2021.

The total was also a 64.04% increase from August 2022, when the total taxes from sports betting wagers totaled $1.8 million. 

Taxes weren’t the only figure that grew significantly. Total handle for September was $450.2 million, a 55.2% increase compared to August 2022. Compared to September of 2021, this was an increase of 10.27%.

It wasn’t just the state winning. Total bettor win percentage for September was also a record-setting figure, at 11.4% win. 

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Football Leads Wagers in September

In September, professional football brought in the most wagers, with $145.7 million in bets placed. NCAA football came in third with $52.6 million in wagers. Collectively, football brought in in collective $198.3 million in wagers. 

This is unsurprising as the football season kicked off in September. With the Broncos trading for Seattle quarterback Russell Wilson in the offseason, sportsbooks improved the team’s odds of winning games and the Super Bowl. 

Baseball came in second, bringing in $83.2 million in bets. While home team, the Colorado Rockies, was out of the running earlier in the season, plenty of fans are tuned in as the World Series ramped up. 

The fourth spot went to tennis with $33 million in wagers, and fifth spot went to basketball with $21.6 million in wagers. With people keeping an eye on the Nuggets this season, basketball wagers will likely increase as the season continues. 

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