Colorado ended the year with plenty to be excited about. Bettors are winning (relatively), revenue is climbing, and sports-wise there is a lot to root for. All are ingredients to make a popular wagering environment.
Colorado's Department of Revenue announced that sportsbooks in the Centennial State accepted $716.4 million in wagers in December, a 17.7% month-over-month increase and another state record.
The tax bill on operators was also at an all-time high thanks to an increase in the amount the sportsbooks held. The books kept just 5.6% of the money they saw, which was a great number for Colorado bettors and an improvement for the operators, who held just 4.7% in November.
Sportsbooks reported $25 million in net revenue, well above November’s $13.9 million. Taxwise, the state charged operators $3.6 million, more than double the previous month and a 42% increase year over year.
Now that 2023 is over, Colorado saw more than $5.5 billion in wagers, up from $5.1 billion in 2022. Eleven out of the 12 months saw a year-over-year increase in handle, June being the lone miss, which is surprising since the Denver Nuggets won the NBA championship that month (NBA bets in June 2022 were much higher year over year for what its worth).
December football great for bettors
January is playoff time in the NFL, but December was still popular in the Centennial State, probably because the Denver Broncos were still playing.
NFL was the most popular sport to bet on, seeing nearly 27% of the statewide action, compared to the 25% in November. On top of that, those same NFL bettors, as a whole, beat the sportsbooks. Coloradans wagered $193 million and won $199.4 million. Boxing was the only other specific sport to be a winning for bettors as a whole.
