Colorado sports betting revenue reaches $45m in May

Sports betting revenue increased 43.3 per cent compared to the same month in 2023.

US.- Colorado’s sports betting revenue was $45m in May, up 43.3 per cent compared to the same month in 2023. Almost all revenue came from online betting, with retail betting accounting for just 0.05 per cent at $20,381.

The handle amounted to $447.6m, down 12 per cent from April and 16.2 per cent higher than last year. Some $446m was bet online and $1.6m at retail locations. Basketball was the most popular sport, drawing $147.5m in bets. Baseball bets totalled $92.3m, tennis $25.5m, and ice hockey $24.2m.

In Colorado, lawmakers will allow state residents to decide whether sports betting revenue should be allocated to funding water conservation and protection projects or to cover regulations costs and support responsible gambling and offset losses of other types of gambling. The issue will be decided at the November 2024 election.