America’s favorite pastime saw less Colorado sports betting action this summer compared to last year.
Baseball handle totaled $105.5 million in August according to the Colorado sports betting report, down 10.5% from last year.
From June through August, Colorado sportsbooks saw 6% less handle on baseball compared to the same months last year.
Colorado baseball handle fell each month
Major League Baseball is the only major professional sport on the calendar throughout the summer, so it still generated the most handle of any market available in Colorado.
The Colorado Rockies finished with the worst record in their division in each of the last two seasons so a shift in local interest should not be to blame.
|June||$104.6 million||$106.5 million||-1.8%|
|July||$104.9 million||$110.6 million||-5.2%|
|August||$105.5 million||$117.8 million||-10.5%|
|Total||$314.9 million||$334.9 million||-6%|
*Figures may not add due to rounding
Table tennis serves up CO sports betting gains
While interest in America’s pastime declined year-over-year, other sports, like NCAA football and table tennis, saw CO sports betting handle increase.
Table tennis served up $12.4 million in Colorado sports betting handle in August. Betting was up 2% over July and more than 200% from August 2022.
Operators can offer nearly two dozen different wager types across more than 450 different table tennis leagues or events throughout the year.
‘Prime Time’ lights up college football interest
College football betting handle nearly hit $6 million in August as the regular season kicked off near the end of the month.
That was up 37.9% over last August.
The hiring of new University of Colorado head coach Deion Sanders was one of the biggest off-season stories. It drove increased interest around the team, leading to the school being one of the most heavily bet teams nationwide during the first four weeks of the season.
Colorado sports betting crosses revenue milestone
Total Colorado sports betting handle landed just shy of $306.1 million in August. It was a 5.5% increase over the same month last year.
CO sportsbooks cleared $25.9 million in monthly gross gaming revenue. Colorado is now the eleventh state post-PASPA to surpass $900 million in all-time gross sports betting revenue.
Sportsbooks posted an 8.45% gross hold for the month. After promotions and other deductions, taxable net revenue fell to $18.7 million.
The state collected $1.8 million in sports betting taxes.