Colorado Sports Betting Handle was Down in November, But Revenues Were Up

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Colorado Sports Betting Handle was Down in November, But Revenues Were Up
© USA Today

Sports betting in Colorado remained steady following its record-setting October.

While November wasn’t a new handle record, the state still took in $475.4 million in bets, down slightly from October’s record of $491.5 million but 105.6% more than November 2020’s $231.2 million.

Internet wagers continued to make up most of the handle with Colorado recording $469 million in online bets, a decrease of 3% from October’s $483.3 million and 106.7% from November 2020’s $226.9 million. Mobile wagers made up 98.6% of Colorado’s overall handle.

Colorado Revenue Record

Colorado set a revenue record in November, tallying $36.8 million, which was 28.5% more than October’s $28.6 million and 100.4% higher than November 2020’s $18.4 million.

Sports betting taxes for November came to $1.9 million, an increase of 58.9% from October’s $1.2 million and 149.6 million more than November 2020’s $793,820.

Colorado Sports Betting, November vs. October

Total Handle Mobile HandleRevenue (GGR)
November$475.441M$469.007M$36.782M
October$491.453M$483.315M $28.617M
Change Down 3.3% Down 3.0% Up 28.5%

Popular Sports

Unsurprisingly, NFL betting was Colorado’s most popular in November. The NFL tallied the highest handle at $140.3 million, while the NBA was second at $124.7 million. College football ($29.4 million) and college basketball ($29 million) were third and fourth. Hockey rounded out the top five at $14 million. All “other” sports made up $22 million in handle, and parlays took in $83.8 million in bets.

November was the first full month of betting in the NBA and NHL after both leagues started their seasons in October. The month also marked the beginning of the college basketball season, which provided nearly $30 million in additional handle for November.

Colorado has numerous teams to back right now, including at the pro level with the Denver Broncos, Denver Nuggets and Colorado Avalanche. There are also the well-known Division I basketball programs such as Colorado, Colorado State, Air Force and Denver if bettors want to wager on the local teams.