Colorado January Sports Betting Tops $300M for First Time
Colorado just recorded its highest monthly amount of sports betting wagers since launching on May 1, 2020.
The January handle of $326.9 million sent Colorado’s total past $1.5 billion in sports bets over the last nine months. That followed December’s previous-high mark of $284.6 million in handle — a 14.9% increase, according to figures released by the Colorado Division of Gaming on Thursday.
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Each month since launching, Colorado has set new records for total sports handle.
January taxes on sports bets collected by the state were $1.195 million and represented a 125% increase from December 2020, according to the January report.
Mobile betting continues to dominate the handle with 98% of total wagers coming from customers online at a clip of $319.4 million for January, up 13.9% from December. Retail betting was $7.5 million compared to December’s mark of $4.1 million and $4.3 million in November.
January’s revenue (GGR) rose from December's $17.1 million to $23.1 million.
Another online sportsbook will join the market this year. On Feb. 2 it was announced that ZenSports will provide online sports betting for a new Central City casino from Steve Boulter that is expected to open in 2021.
Colorado Sports Betting, January vs December
|Total Handle||Mobile Handle||Revenue (GGR)|
|Change||Up 14.9%||Up 13.9%||Up 34.9%|
Colorado Bettors Like Pro Basketball
Professional basketball was the most popular option for Colorado sports betting, with $88.4 million in wagers placed through online and retail operators in January. Pro football accounted for $75 million and college basketball rounded out the top three sports for the month with $39.9 million in bets.
Table tennis was the darling of the state’s sports-betting market after its May 2020 launch, primarily because COVID-19 left the sports menu scarce. But the sport continued its popularity in Colorado with $11.8 million in total bets in January. Hockey, with the Colorado Avalanche getting their season underway, finished in fifth place in the state at $9.6 million.
The category for "other" bets accounted for $31.7 million and parlays accounted for $53.3 million in wagers.
New Jersey & Nevada Top January Sports Betting
January could be the first month that total U.S. sports handle tops $4 billion. It was $3.77 billion in December.
Although New Jersey failed to reach the coveted $1 billion mark for sports betting handle in January, it did have its third straight month of more than $900 million, with $958.7 million, easily outpacing Nevada’s $646.5 million. The record in New Jersey and nationally was December’s figure of $996.3 million.
Nevada reported its figures earlier Thursday.
Pennsylvania reported $615.3 million in total sports betting handle in January, the first time Pennsylvania has topped $600 million.
Indiana set a new state record for sports wagering handle in January at $348.2 million, putting it just ahead of Colorado’s $326.9 million.
Looking ahead to February, figures released by the Colorado Limited Gaming Control Commission show $31.2 million in total wagers on the Super Bowl — $14.3 million in future bets and $16.9 million in gameday bets. That’s a good start for the month and will likely lead to another Colorado handle record.
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