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Colorado’s sports betting industry continues to grow as it experienced its second-highest month of overall wagers in October. Since the passing of legislation in May 2020, there has been a significant increase in total bets, with January 2021 witnessing the highest number of stakes ever recorded.
According to a press release from the Colorado Department of Revenue, the total amount of bets placed in October 2022 amounted to $526,619,777. This figure represents a 17% increase from the previous month of September 2022, which had a total of $450,232,597 in bets.
Furthermore, there was a 7.2 percent increase from October 2021, resulting in a total of $491,453,342.
Statistics on Colorado’s playing activity for October 2022 and the
The difference between online and physical gambling in terms of over $526 million in bets placed can be explained as follows:
- Online gambling brought in close to$ 522 million.
- The total retail sales amounted to approximately $4.83 billion.
In October 2021, the state collected taxes amounting to $2,330,705, which marked an 87 percent increase. However, when compared to the full amount of $2,989,342 collected in September 2021, the total for October 2022 shows a decrease of 22.03 percent.
The September state history total is now available.
What ventures brought in the most money?
In October, American professional sports once again dominated the betting scene with a staggering total of $171,637,593. This marked a significant increase of 17.79% compared to the previous month, reaching its peak in September 2022.
In September 2022, professional sports generated a total revenue of $145,707,490.26. The betting patterns in Colorado were significantly influenced by the continued poor performance of the Denver Broncos.
In terms of betting, basketball secured the second position with a whopping $85 million, while NCAA Football followed closely behind with over $50 million. Rugby and sports managed to secure spots in the top five as well, with bets exceeding $42 million and $24 million respectively.
a portion of a bet concerning pastimes
- 32.6 percent of individuals are involved in amateur and professional sports.
- Bets, combinations, and the dash symbol — 17.5%
- 16.3 percent for basketball —
- 9.6% of NCAA Football teams
- 8% of football —
- 4.6 percent of the individuals participate in ndash and tennis.
- 3.2 percent of Hockey & ndash
- The percentage of sports is 3.1.
- 2.8 percent of another and ndash
- The percentage of people interested in Table Tennis is 1.6%.
- 0.6 percent of the symbols & , MMA, and ndash
- 0.2% of golf is represented by the symbol «–»
In the last quarter, there was a significant decrease in sports betting, with the amount dropping from $83 million to $42 million in October. This decline can be attributed to the Colorado Rockies’ failure to make it to the playoffs in September, which suggests that there was not enough interest in baseball among punters in Colorado.
The surge in betting activities may be attributed to the commencement of the NBA era, resulting in an increase in wagers. Punters witnessed a significant rise, as their bets escalated from over $21 million in September to an impressive sum exceeding $85 million.
People received more than $490 million in prizes, with approximately $4.56 million originating from retail betting and over $485 million from online betting.
The overall revenue generated by professional basketball exceeds $163 million for the general public.
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