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Colorado sports betting witnessed a 3% decline from October, hitting $475 million in November compared to $491 million the prior month.
The Department of Revenue (DOR) released the numbers a day after Arizona announced a record $777M of sports betting handle in the first two months of offering the activity.
The NFL was the top sport to bet on in Colorado with $140.3 million in wagers followed by the NBA with $121 million wagered. NCAA football rounded out the top-three with $29.4 million bet. While the Denver Broncos were eliminated from the Playoff hunt, the team did play competitively in 2021. The Nuggets were playing .500 basketball entering the new year.
“Every market has grown significantly over the last few months, but few have performed better than Colorado since the football season began in September,” said Ian St. Clair, lead analyst for PlayColorado.com, a sports gambling analytics website. “November was a sort of litmus test for how sustainable the growth will be once football season ends because there were fewer games played than in October. A jump in basketball betting is an excellent sign for sportsbooks.”
Colorado collected nearly $2 million in taxes from the wagers, DOR said.
- Gilbert Horowitz, Gambling911.com
