November Sports Betting In Colorado Up Nearly 10%, Setting Handle Record

Written By J.R. Duren on January 2, 2024
NFL Salute To Service During Denver Broncos Game

The record has fallen.

Colorado sports betting handle (total amount bet) hit more than $608 million in November, marking the first time in state history handle surpassed $600 million, according to data from the Colorado Department of Revenue (DOR). The milestone caps arguably the best year in Centennial State sports betting since it launched in 2020.

November’s impressive handle total was 9.67% higher than the sports betting handle Colorado recorded in October 2023. Despite the big boost in handle, gross gaming revenue fell from $46.9 million in October to $28.6 million in November.

November numbers keep handle growth going

November’s record-breaking handle marked the fourth straight month that total Colorado sports bets grew month-on-month:

  • November: $608,488,266
  • October: $554,859,801
  • September: $512,792,794
  • August: $306,065,790.69
  • July: $281,110,490

This year’s handle figures followed Colorado sportsbook trends, with revenue surging from summer to fall each year since 2020.

November’s record-breaking handle topped the second-best month, January 2022, by more than $30 million. It was also the ninth time that Colorado sportsbooks generated more than $500 million in handle.

Here’s a look at those nine months:

MonthHandle
November 2023$608,488,266
January 2022$573,720,213
October 2023$554,859,801
November 2022$552,603,013
January 2023$547,189,025
October 2022$526,619,777
December 2022$518,088,768
September 2023$512,792,794
March 2022$505,611,080

NFL betting leads the way

Non-parlay NFL bets made up the biggest portion of Colorado’s sports betting handle in November 2023 at 24.8%, a trend that’s pretty common at this point in the year as the NFL season is in full swing and charging toward the playoffs.

Pro basketball bets made up 23.6% of the handle share in November, and NCAA football accounted for the third-biggest share at 8.6%

Sport/Bet TypeHandleRevenue Share
Pro football$151,151,18624.8%
Basketball$143,646,62023.6%
NCAA football$52,070,2468.6%
NCAA basketball$37,770,0646.2%
Tennis$22,656,8033.7%
Ice hockey$19,655,8103.2%
Soccer$14,655,8092.4%
Table tennis$9,852,2341.6%
MMA$2,609,8070.4%
Baseball$1,254,5172.1%
Parlays/combo bets$135,330,53722.2%
Other$17,843,8412.9%
Total$608.488.266

What’s ahead for Colorado sports betting?

Based on trends from past years, it’s highly likely that Colorado sports betting handle will stay above $570 million in December and January. There’s an outside chance that the state could see its handle approach $625 million in January, as the first month of the year two of the top-five handle months in Colorado history.

“$608+ million is the highest amount of handle in a given month since the inception of sports betting in May 2020 as well as the first time the monthly handle has exceeded $600 million,” the Colorado DOR noted in a press release about the historic month.

Photo by Bart Young / AP Photo
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J.R. Duren

J.R. Duren has covered the gambling beats for more than a dozen states for Catena Media since 2015. His past reporting experience includes two years at the Villages Daily Sun, and he is a first-place winner at the Florida Press Club Excellence in Journalism Contest.

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