After a less than stellar December, Colorado started the new year on a high note. It may not have been great for bettors but sportsbooks announced $45.4 million in net revenue, a significant boost from roughly $14.5 million the previous month.
The strong numbers may not necessarily mean Colorado is hitting a higher gear in its sports betting space. One year ago, we reported January’s tax bill was at an all-time high but the following 11 months didn't beat that number. Jan. 2024’s tax income was $4.1 million, while a year later it rose 7% to $4.4 million.
Along with the revenue jump, it's no surprise handle increased month-over-month. January's $657.1 million was 1.3%. Year-over-year action grew by 10.1%.
Hold percentage also doubled from 4.6% in December to 9.2% in January. However, online operators were the main contributor. Retail books netted just $80,000, a measly 2% hold. At least those sportsbooks made money this month, more than can be said for December.
Basketball moves ahead of football
January is the month of playoff football, but when it comes to betting, sometimes it's quantity over quality. With more games to wager on, basketball saw a huge boost and was the most popular single sport in Colorado.
Actually, football (both NFL and college) joined parlays as the only sports to see less action versus the month prior. College basketball and tennis nearly doubled their December handle. For online operators, college football was the only losing sport. Retail locations lost in college basketball, tennis, college football, soccer, and MMA.
| Sport | Handle |
| Basketball | $178 million |
| Football | $120 million |
| NCAA Basketball | $52 million |
| Table Tennis | $31.7 million |
| Tennis | $27.5 million |
| NCAA Football | $24.5 million |
| Soccer | $22.9 million |
| Ice Hockey | $19.3 million |
| Golf | $3 million |
| MMA | $2.1 million |
| Parlays | $157.6 million |
| Other | $18.2 million |
