Colorado November Sports Betting Handle Up Nearly 10% to $231M

Colorado November Sports Betting Handle Up Nearly 10% to $231M
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Colorado’s November sports betting handle increased nearly 10% after October saw just a slight increase. The latest figure set a new monthly record for a state that launched online sports betting on May 1.

The state’s top sportsbooks combined for a total handle of $231.2 million in November, a 9.7% increase over October’s $210.7 million. The October figure was up just 1.5% from September.

Mobile sports betting was 98.1% of the total handle. November’s $226.9 million was a 9.9% increase over October’s $206.4 million, according to the Department of Revenue’s monthly figures.

RELATED: More on Colorado sports betting and gambling

In November, the state collected $793,820 in taxes from sports betting operators, down from the $824,700 in sports betting taxes for October, by far the most since the state’s online market launched.

The gross gaming revenue (GGR) for November was $18.4 million, up 5.5% from October’s $17.4 million.

The top five sports in November handle were: Pro football ($88.5 million), college football ($22.3 million), table tennis ($12.4 million), pro basketball ($9.7 million) and college basketball ($8.3 million). Parlay betting accounted for $40.4 million while “other” sports had $31.5 million in wagers for November.

Colorado Sports Betting, November vs. October

Total Handle Mobile HandleRevenue (GGR)
October$210.720M$206.441M $17.402M
ChangeUp 9.7%Up 9.9% Up 5.5%

More Sports Betting Operators on the Way

International gaming company 888 Holdings, which operates 888sport in the U.S., and Stockholm-based Betsson were approved for temporary Internet sports betting licenses on Dec. 17 during the last meeting of the year for the Colorado Limited Gaming Control Commission.

Both companies were unanimously approved by the five-member committee and 888sport and Betsson have been granted pending regulatory background investigations.

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

The addition of 888sport and Betsson would give Colorado 18 online sports betting operators, according to the gaming control commission’s website.

U.S. Still Seeing Records in November

New Jersey continues to set national monthly records and is closing in on a $1 billion month. The new mark is $931.6 million for November, breaking the previous state and national total handle record of $803 million set in October.

November’s sports betting handle in Indiana was a state record at more than $250 million ($251.4 million), an 8.9% increase over October’s $230.9 million. Indiana revenue for November was also a record at $25.3 million.

Iowa reached all-time monthly highs in November for total sports betting and mobile handles, breaking October’s totals. Iowa recorded $87.2 million in total sports betting handle and $62.4 million in mobile handle.

Pennsylvania was down 6.4% in November from a record $525.8 million in October, but still had $491.9 million in total handle.