After its first monthly handle dip in February, Colorado sports betting increased again in March.
Colorado bettors wagered $301 million in March, according to a Colorado Division of Gaming report released Tuesday. Since launching in May 2020, the state has now surpassed $2 billion in handle.
While March’s total is below January‘s all-time record handle of $326.9 million, it was above February’s $266.5 million.
Colorado sports betting revenue back on the upswing too
CO sports betting generated $20.4 million in gross gaming revenue in March, a 6.77% hold for sportsbook operators.
That was up from February’s $10.4 million. As with overall handle, January also is the all-time revenue mark of $23.1 million.
The state collected $1.06 million in taxes.
Online sports betting stays strong
Online wagers in Colorado maintained dominance, with $295.2 million, or 98% of bets, coming digitally.
The previous two months saw approximately 97% of wagers made online.
Operators turned in a negative month in retail sportsbooks, with a reported -$1 million in gross gaming revenue. That was the result of $5.8 million in in-person bets and $6.8 million paid out at retail sportsbooks.
Super Bowl futures and other long-term bets coming in typically cause those results.
Basketball a big draw in Colorado
The NBA remained in the top slot in March, drawing $106.9 million in bets. March Madness betting was strong, pushing NCAA basketball into the second slot with nearly $71 million in wagers.
College basketball was third in February with $24.1 million in bets.
Table tennis losing steam in the Rockies?
Table tennis has been a staple in the top five of sports in Colorado since launching in May 2020.
After drawing $13 million in February bets, the obscure sport dipped to the sixth spot in March with $8.8 million in bets.
March’s top 5 in Colorado
- Basketball: $106.9 million
- NCAA basketball: $70.9 million
- Hockey: $13.8 million
- Tennis: $10.9 million
- Soccer: $8.9 million
Parlays drew $55.8 million in bets.
Colorado neighbors pushing into sports betting
The 2021 legislative session has seen a flurry of activity for Colorado’s neighbors and could suck some sports bets out of state.
Wyoming legalized mobile sports betting on April 5, with a goal to launch this year.
Nebraska is pushing retail sports betting to the finish line as part of a broader expansion in casino gaming.