The Denver Broncos may be struggling to start the NFL season but that hasn’t stopped Coloradans from jumping back into betting.
Colorado's Department of Revenue reported that the state's operators took in $512.7 million in wagers in September, a whopping 67.5% month-over-month increase. Compared to 2022, this year saw a nearly 14% increase in wagers. Despite the jump in action, bettors maintained their luck as sportsbooks held 8.8% of the money, unchanged from August.
As statewide bets increased, so too did the tax haul. Colorado announced $3.1 million in tax revenue in September, a 73% jump versus August and a 4.5% yearly boost.
While Colorado as a whole reported an 8.8% hold, this was really based on the online operators who saw the vast majority of the action. Physical sportsbooks made up just under 1% of Colorado’s handle but had a hold of 18% (the mobile books had a hold of 8.7%).
College football was the most popular sport for those who wagered in person, followed by the NFL. Both these sports were good for the house as operators held 20% from the NCAA and 22% from the NFL. Tennis, basketball, and golf were losers for the brick-and-mortar locations.
Football bets galore
In a month without playoff baseball, hockey, or basketball, football dominated in Colorado. A reported 44.3% of all wagers were made on football (30.7% on the NFL and 13.6% on college football). Baseball was the second most popular sport to bet on, seeing 15.3% of statewide action. No other sport saw more than 10%.
