Colorado June Sports Betting Revenue Way Up; Handle Dips

Colorado June Sports Betting Revenue Way Up; Handle Dips
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Although Colorado sports betting saw a nearly 8% decline in June, revenue increased more than 30% over May.

The total handle for June was $229.8 million, a 7.7% decrease from the $248.97 million posted in May, according to a report Tuesday from the Colorado Department of Revenue. But the revenue figures more than make up for the decline in handle.

The gross gaming revenue for June was $19.7 million, which is up 30.2% from May’s $15.2 million. Total sports betting taxes for June came to $1.2 million, up 86.7% from May’s $635,641. Taxes were up because sportsbooks in June gave about $8 million in promotions, about $1.2 million less than the promos in May.

The online sports betting handle for June in Colorado was $227.1 million, down 7.9% from May’s $246.5 million. Online betting was 98.8% of the total handle as retail sportsbooks at the western Colorado casinos saw just $2.7 million.

Outside of the current all-online markets for Tennessee sports betting and Virginia sports betting, Colorado has the highest percentage of bets placed on mobile or online.

The top 5 sports wagered on in Colorado in June:

“Other” sports accounted for just under $13 million ($12,977,526), while parlays saw $33.9 million in wagers in June, according to the state report.

Colorado Sports Betting, June vs. May

Total Handle Mobile HandleRevenue (GGR)
June$229.765M$227.074M $19.731M
Change Down 7.7% Down 7.9% Up 30.2%

Bally Bet is Live in Colorado

Bally’s Corp. launched its mobile sportsbook, Bally Bet, in Colorado at the end of May. The company has three casinos in the state — Golden Gates Casino, Golden Gulch Casino and Mardi Gras Casino. In early July they officially rebranded to Bally’s Black Hawk.

Last week, the Ute Mountain tribal casino, in southwestern Colorado, added sports betting to a Colorado gambling portfolio that also includes slots, table games and bingo. The tribe announced a new partnership with London-based company International Game Technology.

Ute Mountain Casino Hotel is in Towaoc, in the shadow of Sleeping Ute Mountain and near the Four Corners region.