Colorado Sports Betting Breaks Another Record In October

Written By Ian St. Clair on 11/30/2021Last Updated on December 1, 2021
Justin Herbert Chargers

If you required further evidence, Colorado has provided substantiation that the NFL endorses sports gambling in the United States.

Based on our observations in other markets, we had predicted that the October handle would amount to $500 million. The state’s market came incredibly close to reaching this prediction after the Colorado Division of Gaming released their numbers on Tuesday.

During the month of October, Colorado sports betting generated an impressive $491.5 million, surpassing the previous record of $408.3 million set in September. This remarkable achievement also marks the second consecutive month in which Colorado has exceeded $400 million in sports betting.

According to the statement by the Division of Gaming, the October handle has shown a significant growth of 20.36% compared to August and a remarkable surge of 133.23% compared to the same period last year, when it amounted to $210.7 million. It is important to note that last year, during this time, the country was still heavily affected by the COVID-19 pandemic.

Colorado activities betting on the outcomes in October

Colorado fell short of breaking the monthly revenue handle record in October.

In January, sports betting broke its previous record for state tax, generating $1.19 million for the state out of a total handle of nearly $500 million. Additionally, the state received $1.2 million in state taxes from the overall handle.

And that’s only the start of the downfall for Colorado sports gambling data.

After coming close to breaking the net gaming revenue record with an impressive $22.7 million in September, October surpassed expectations by generating $28.6 million. This amount surpassed the previous record of $23.1 million set in January.

Despite a significant increase in online sports betting revenue from September’s $1.8 million, it fell short of breaking the record. October’s net sports gambling revenue reached $9.8 million, representing an improvement over September, albeit a modest one. Interestingly, the highest revenue was recorded in January, amounting to $11.7 million.

Surprisingly, the most predictable figure in October reveals the dominance of online sports betting in the market. Merely 2% of the total bets placed during the month originated from the 17 financial casinos in Colorado, while an overwhelming 98% was attributed to online wagers.

the most popular activities in October

As previously mentioned, NFL betting in Colorado was undeniably the main catalyst. Despite the Denver Broncos’ 1-4 record in the month, the passion for football remained very much vibrant.

A total of $171.2 million was wagered on the NFL during the entire quarter by bettors.

NBA betting came in second place, reaching a staggering $63.3 million, while college football betting secured third place with $51.97 million. It is quite surprising that such a significant amount was wagered on college football, especially considering the underperformance of the University of Colorado and Colorado State University during this season.

In this state, table tennis betting remains a popular niche sport, consistently ranking among the top 10. However, it was finally surpassed by soccer and hockey. During the month of October, table tennis betting generated a total of $10.3 million in wagers.

Top 5 sporting wagers in Colorado

  1. NFL$ 171.23 billion
  2. Basketball$ 63 billion
  3. The total amount in NCAA football is $51.97 million.
  4. Baseball$ 37.38 billion
  5. The amount of money in soccer is $15.81 million.
by game, bet Complete Manage Handle Online a wholesale handler ( GGR ) Revenue
Professional Football $171,233,958 $167,723,488 $3,510,470 $6,282,827
Professional sports $63,309,189 $62,534,366 $774,823 $2,455,672
NCAA – Football $51,970,219 $50,823,988 $1,146,231 $186,399
Baseball $37,384,466 $36,741,699 $642,767 $3,498,662
Soccer $15,814,013 $15,772,975 $41,038 $581,050
Tennis $14,146,198 $14,114,882 $31,316 $676,775
Hockey $13,158,272 $12,928,748 $229,524 $1,121,142
Tennis at a desk $10,328,995 $10,324,863 $4,132 $420,925
MMA $1,695,668 $1,655,760 $39,908 $278,002
Boxing $1,353,579 $1,324,037 $29,542 $223,428
Other $21,364,031 $21,325,089 $38,942 $815,032
Parlay $89,694,754 $88,044,852 $1,649,902 $12,076,794
Total $491,453,342 $483,314,747 $8,138,595 $28,616,708