Colorado August Sports Betting Tops $128M In Total Handle

Colorado August Sports Betting Tops $128M In Total Handle
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As expected, the return of professional sports has resulted in a substantial jump in sports wagering handle and gross gaming revenue, 117% in both, among Colorado’s legal sportsbooks.

The August handle was $128.64 million — more than the $123.5 million combined in the first three months of legal sports betting — among Colorado’s more than 20 online and retail sportsbooks, according to figures released Wednesday by the Colorado Department of Revenue. Currently, the state gaming commission website lists 13 online and eight retail books.

RELATED: Learn more about Colorado casinos & online gambling law

Gross gaming revenues were $7.5 million (an increase of 44.7% from July, nearly $5.2 million), net sports betting proceeds were $1.87 million and the taxes collected were more than $189,461. The win percentage was 5.85%.

The most significant takeaway was how much online wagering dwarfed retail. Mobile sports betting handle at Colorado sportsbooks was about $126.7 million, up 116.1% from July ($58.6 million) compared to just under $2 million for retail. Put another way, online sports wagering comprised more than 98% of all sports wagering in the state in August, according to state figures.

Among individual sports, basketball was the most popular in August, attracting more than $38 million in betting handle. That was followed by baseball (nearly $22.8 million), hockey (almost $13.6 million), table tennis (over $4.5 million) and golf (nearly $4.5 million). A category noted as “other” accounted for about $13.8 million. Parlays accounted for about $22.7 million. Those numbers will likely change significantly in September when NFL betting and college football betting impact the wagering figures.

Colorado Sports Betting, August vs. July

Total Handle Mobile HandleRevenue (GGR)
August$128.646M$126.666M $7.520M
ChangeUp 116.9%Up 116.1%Up 44.7%

August Hot in Legal Sports Betting States

August has been a banner month for states with legal sports betting. New Jersey set a U.S. record for total sports handle in a month at $668 million (a 112% increase over July), while Pennsylvania posted a total handle of $365 million in August (a 121.5% increase).

Those two states combined for more than $1 billion in August handle.

In addition, West Virginia’s total sports handle was up 155% in August with $40.4 million wagered. Indiana sportsbooks saw a 138% increase month over month at $169 million in total sports handle in August, while Iowa had a 120.1% increase in August with $50.3 million.

September Should Be Better

In addition to the NFL starting on Sept. 10, Colorado has seen new sportsbooks go live.

On Sept. 2, TheScore Bet launched in the state. It had received approval from the Colorado Division of Gaming on Aug. 5. A deal with subsidiary of U.S. gaming operator Jacobs Entertainment Inc. in January gave theScore Bet market access.

On Sept. 10, William Hill’s mobile app went live on the day the 2020 NFL season kicked off, The company had previously launched sports betting kiosks in two Black Hawk casinos.

The next day, Betfred USA Sports announced that its online sports betting platforms launched in Colorado and Iowa. Betfred also has a partnership deal with the Denver Broncos.

On Sept. 21, Carousel Group announced that has gone live with its online sportsbook. It took its first wager in Colorado last week.

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