Colorado 2020 Handle Hits Nearly $1.2B After December Record

Colorado 2020 Handle Hits Nearly $1.2B After December Record
© USA Today

Since launching on May 1, Colorado’s sports betting market saw nearly $1.2 billion in wagers in 2020 and capped off the year with record total handle and mobile handle in December.

The December sports betting handle of $284.6 million was a 23% increase over November’s $231.2 million, according to figures release by the Colorado Division of Gaming on Monday. Total taxes collected in December was $531,489, a decline from November’s $793,820.

CHECK OUT: The top sportsbooks in Colorado

Colorado’s strong start to sports betting can be attributed to a competitive online market with about 20 sportsbook operators, favorable regulations and a rabid fan base for its professional and college sports teams.

“Hitting the $1 billion mark is a milestone event for the department, leading us to believe that the trust and competition in the industry are leading bettors from the black market to the regulated market,” Dan Hartman, director of the Colorado Division of Gaming, said in a news release. “We believe the legal marketplace is having and will continue to have a positive impact on Colorado.”

From May 1 to Dec. 31, Colorado had a total sports handle of $1,185,754,617 and collected taxes of $3,418,818.

“I am thrilled to see the success of Colorado’s regulated sports betting program, especially coming out of a turbulent year,” Mark Ferrandino, executive director for the Colorado Department of Revenue, said in the release. “As we look to 2021, we are focused on continuing our collaborative stakeholder engagement to remain poised for success.”

New Jersey set another national monthly sports betting handle record in December, nearly reaching $1 billion ($996.3 million). The previous record was $931.6 million.

Colorado Sports Betting, December vs. November

Total Handle Mobile HandleRevenue (GGR)
December$284.551M$280.444M $17.152M
ChangeUp 23.0%Up 23.6% Down 6.6%

Other Key Numbers in Colorado

Mobile sports betting was 98.6% of the total handle in December. The $280.4 million was an increase of 23.6% from November’s $226.9 million, according to the Department of Revenue’s monthly figures.

Gross gaming revenue for December was $17.2 million, down 6.6% from November’s $18.3 million.

The top five sports in December handle were: Pro football ($88.1 million, almost the same as November), followed by pro basketball ($42.8 million). College basketball was next with $35.2 million, with college football ($14.9 million) and table tennis ($10.9 million) rounding out the top five.

Parlay betting accounted for $46.4 million, an increase of $6 million over November. “Other” sports had $36.3 million in wagers in December.

More In-Play Betting?

Last week, Circa Sports Colorado and DeckPrism Sports announced an agreement that will make DeckPrism the exclusive in-play odds provider for Circa's sportsbook app in Colorado.

The deal gives Circa Sports Colorado access to DeckPrism’s technology, which will in turn offer Circa Colorado customers in-play odds, according to a news release. In-play betting is expected to grow in the U.S. as some of the current delays involved with the practice disappear when the technology improves

In addition to that announcement, SuperBook USA recently went live in Colorado, its first state outside of Nevada.

And in mid-December, international gaming company 888 Holdings, which operates 888sport in the U.S., and Stockholm-based Betsson were approved for temporary Internet sports betting licenses in Colorado.

Partnering with Grande Casino in Cripple Creek gives 888 Colorado market access while Betsson reached an agreement in June to partner with Dostal Alley Casino in Central City.

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