Colorado sports betting joins a growing number of markets that enjoyed an extra Sunday in October.
Colorado sportsbooks took a record $491.5 million in October bets, according to a Colorado Division of Gaming report. The total surpasses the $408.3 million record set in September.
The record handle is 133.2% higher than October 2020, when Coloradans bet $210.7 million. With NFL betting leading the way, a fifth Sunday during October helped boost the monthly sports betting revenue figures.
Colorado sports betting revenue hits new heights
Along with setting the monthly handle record, Colorado sportsbooks also generated a record $28.6 million in gross gaming revenue, good for a 5.8% hold. In September, the sportsbooks reached $22.7 million, just shy of January 2021‘s $23.1 million record.
As sportsbooks continue to shell out promotions, the net sports betting revenue in Colorado dropped to $9.8 million. That is well above the $1.8 million in September, but still shy of January’s $11.7 million record.
The state collected a record $1.2 million in taxes, just edging out the $1.19 million collected in January. The state’s bettors prefer to bet online, with October right in line with the historic rate of 98%.
Colorado loves football
The extra NFL Sunday in October was certainly kind to many states. Both New Jersey sports betting and Nevada sports betting surpassed $1 billion in handle, and Colorado is no different. Colorado bettors wagered $171.2 million, or 34.8% of the month’s total, on the NFL.
College football betting was third $51.97 million.
NBA betting edged out college football for No. 2, with $63.3 million bet on the sport. Baseball and soccer rounded out the top five with $37.4 million and $15.8 million, respectively.
Top sports in Colorado
| Sports | Handle | Gross Revenue | Hold |
|---|---|---|---|
| Pro Football | $171.2 million | $6.3 million | 3.7% |
| Basketball | $63.3 million | $2.5 million | 3.9% |
| NCAA Football | $51.9 million | $186,399 | 0.4% |
| Baseball | $37.4 million | $3.5 million | 9.4% |
| Soccer | $15.8 million | $581,050 | 3.7% |
| Tennis | $14.1 million | $676,755 | 4.8% |
| Ice Hockey | $13.2 million | $1.1 million | 8.3% |
| Table Tennis | $10.3 million | $420,925 | 4.1% |
| MMA | $1.7 million | $278,002 | 16.3% |
| Boxing | $1.4 million | $223,428 | 15.9% |
| Parlay | $89.7 million | $12.1 million | 13.5% |
| Other | $21.4 million | $815,032 | 3.8% |
