Share
It was a brutal June for Colorado sports betting as revenue fell 70% from May.
The latest Colorado Department of Revenue report shows operators generated $9.2 million in gross gaming revenue (GGR). As a result, state taxes plummeted from $2.2 million in May to just over $441,000 in June.
Summer slump hits hard
Sports betting handle stood at $310.7 million for the month, down from $385.2 million generated last month. Similarly, Colorado online sports betting and retail wagers were both down significantly.
The 10 retail sportsbooks experienced the most significant drop going from $216,433 in revenue to -$674,061. Last month, Colorado was one of three states with an operator win rate below 10%. In June, the state saw its win rate drop to 2.97%.
Colorado sports betting numbers according to the June revenue report:
- Online gross revenue: $9.9 million
- Retail gross revenue: -$674,061
- Total GGR: $9.2 million
May revenue figures:
- Online gross revenue: $31.2 million
- Retail gross revenue: $216,433
- Total GGR: $31.4 million
Furthermore, on July 27, the PlayUP Colorado Sportsbook officially stopped accepting bets.
Speaking with Legal Sports Report, CEO Daniel Simic requested that the sportsbook be put in “maintenance mode” after the announcement that its license was revoked in New Jersey for multiple issues.
With the shutdown of its Colorado sportsbook, the company no longer has an operational sportsbook in the US. Following the New Jersey announcement, Simic said, “we simply have to resolve the issues at hand” to reapply for an NJ license.
Baseball easily leads the way in Colorado
As the US inches closer to the start of the 2023 NFL season, football betting returned to the betting market in Colorado.
In May, football betting was non-existent. However, in June, it made its return by taking less than 1% of wagers. With a little more than three months left in the season, Major League Baseball (MLB) took the top spot with more than 33% of bets.
Percentage of wagers by sport:
- Baseball: 33.7%
- Baseball: 18.7%
- Parlays: 22.4%
- Tennis: 7.6%
- Other: 4.6%
- Soccer: 3.8%
- Hockey-Ice: 1.5%
- Table Tennis: 2.5%
- Golf: 3.1%
- MMA: 1.3%
- Football: 0.4%
