Colorado Reports April Sports Betting Handle of $244.4M
Colorado sports betting experienced a drop-off in April after March Madness. That was consistent with other states and was to be expected.
The state’s April total sports betting handle came in at $244.4 million, down 18.3% from March’s $300.1 million, according to figures released Tuesday by the Colorado Division of Gaming. It’s just the second month Colorado saw its sports betting handle decline month to month. April marked the end of the first year of legal sports betting in Colorado that saw $2.3 billion wagered.
On the mobile side, the online sports betting handle was a reported $241.9 million, a decrease of 18.1% from $295.2 million in March. And for the second month in a row, the mobile handle (99%) made up at least 98% of the state’s overall handle, according to the Division of Gaming Report. April revenue (GGR) was down 13.8% from March’s $20.4 million to $17.6 million.
The total hold in April was a reported 7.19%, up from the 6.77% in March and a large increase from the 3.92% in February, according to figures from the Colorado Department of Revenue. Total sports betting taxes for April came in at $1.1 million, 2.1% higher than the $1.06 million in March.
Colorado Sports Betting, April vs. March
|Total Handle||Mobile Handle||Revenue (GGR)|
|Change||Down 18.8%||Down 18.1%||Down 13.8%|
Basketball Reigns Supreme Again
For the second consecutive month, basketball was the most wagered on sport at the top sportsbooks in Colorado in April. The NBA finished with a total handle of $84.3 million, while college basketball recorded a handle of $6.8 million with the Final Four and national title game taking place during the month. The overall NBA handle was the lowest in three months following $106.9 million in March and $95 million in February.
The MLB season regularly scheduling games during the month meant baseball jumped to the second most-bet on sport. Baseball had a handle of $48.3 million, beating out hockey ($10.6 million), table tennis ($9 million) and soccer ($8.7 million). Parlays accounted for $42.9 million in wagers.
Other States Saw April Slide
Other key states with legal sports betting have reported April figures and have seen decreases from March. It was not unexpected. Here are the top states that have reported so far:
- New Jersey’s total sports betting handle for April was $748 million, down 13% from March’s $859.6 million, according to figures released by the state on May 14. April’s overall sports betting revenue in New Jersey came in at $54.8 million, a decrease of 9.7% from March’s $60.8 million.
- Pennsylvania registered a total sports betting handle of $479.4 million in April, a 14.4% drop from March’s $560.3 million.
- Michigan, which also released its April figures on May 14, had $274.2 million in total sports handle. That was down 28.5% from March ($383.7 million).
- Indiana saw a 25% decline in April sports wagering handle, while Iowa saw a similar drop (26.7%).
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