All About Colorado Sports Betting Handle And Revenue
The experts at BetColorado.com have developed this guide to help you better understand the terms used when discussing Colorado sports betting revenue and handle. The state releases those figures on a monthly basis.
Colorado voters approved a constitutional amendment legalizing sports betting in November 2019. It allows for both in-person wagering at a brick-and-mortar sportsbook in a casino, or for wagering through a mobile app or an online site.
Though it’s not one of the more populous states that has legalized sports betting, Colorado offers one of the widest selections of online sports betting apps and websites in the country. Currently, 24 Colorado sports betting apps are licensed in the state.
Colorado Sports Betting, May vs. April
| Total handle | Mobile handle | Revenue |
May | $495.333M | $493.411M | $37.376M |
April | $507.860M | $505.592M | $34.995M |
Change | Down 2.5% | Down 2.4% | Up 6.8% |
The Colorado sports betting market continues to show growth after four years. Bettors in the Centennial State wagered $495,332,856 in May, according to data that the Colorado Division of Gaming reported on June 25.
That’s just 2.5% less than the $507,860,831 handle the state reported for April. More important, the May handle is up 10.7% from the $447,561,934 that bettors wagered in May 2024 in a year-over-year comparison.
Online wagering accounted for $493,411,091 (99.6%) of May’s bets. That was a 2.4% decline from the $505,592,302 Colorado’s online sports betting apps handled in April.
Though traffic dropped marginally month over month, Colorado’s operators enjoyed a better bottom line. Licensees reported $37,375,709 in net revenue, of which $37,366,968 (99.98% of the total) went to online sports betting apps. The overall revenue figure was a 6.8% rise from April, while online operators saw their total increase by 7.4%.
May’s revenue figures were also 11.4% higher than the $33,541,925 operators earned in May 2024.
The higher revenues also brought additional tax dollars to the state. Colorado received $3,587,198 from operators in May, with all but $4,307 generated by online operators. That was up 5.4% from the $3,402,122 the state received in April.
Colorado does not break down handle or revenue figures by operator. However, the state does report how much was wagered on various sports.
Bettors wagered $144,809,807 on basketball, fueled in large part due to the NBA’s Denver Nuggets making the Western Conference semifinals. Baseball accounted for $95,331,966, followed by table tennis ($32,468,933), tennis ($28,855,680) and soccer ($27,584,378).
Parlays accounted for $118,866,453 of the betting traffic for May.
Colorado Mobile Sports Betting History
Colorado Sports Betting Handle and Revenue FAQs
Colorado bettors wagered nearly $6.19 billion on sporting events in 2024. The total handle increased 11.3% from 2023, when the state’s sports betting operators took $5.56 billion in wagers. The revenue rose 24.4% in a year-over-year comparison, up to $325 million in 2024, for operators offering Colorado sportsbook promotions.
References
Author
Steve is an accomplished, award-winning reporter with more than 20 years of experience covering gaming, sports, politics and business. He has written for the Associated Press, Reuters, The Louisville Courier Journal, The Center Square and numerous other publications. Based in Louisville, Ky., Steve has covered the expansion of sports betting in the U.S. and other gaming matters.
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