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The Colorado Division of Gaming released October sports betting figures revealing retail and online sportsbooks generated $554.86 million in handle (total bets) throughout the month.
It was the second consecutive month and eighth overall that Colorado surpassed $550 million in bets. Of the total amount gambled in October:
- $550.42 million came from online bets
- $4.44 million came through retail sportsbooks
According to the state regulators, the total figure is an 8.20% increase from September and a 5.36% rise compared to October 2022.
Colorado sportsbooks brought in nearly $47M in revenue in October
Colorado sportsbook operators generated $46.91 million in gross gaming revenue (GGR) in October, making the Centennial State the 10th state to surpass $1 billion in GGR.
The $46.91 million figure represents a 28.48% rise from October 2022’s $36.51 million and a 3.62% increase from Colorado’s September gaming revenue of $45.28 million.
From the total revenue amount, online sports betting generated $47.0 million, but a retail revenue loss of $90,005 slightly decreased the total figure.
Colorado’s October GGR also ranks second all-time after the $51.3 million accomplished in September 2022.
Throughout the month, the state collected $33.07 million in adjusted gross revenue (AGR/ net proceeds), resulting in $3.35 million in taxes paid to the state.
American football most popular sport in Colorado in October
Since we’re at the peak of the 2023 NFL season, American football was the most popular sport to bet on in October. Colorado players gambled $185.24 million in total on American football.
Basketball was next, with a handle of $63.40 million. College football followed with $51.84 million in total bets.
Other popular sports in Colorado throughout last month were baseball, with $38.28 million in bets and tennis, with $32.88 million worth of wagers.
According to the Colorado Division of Gaming’s revenue report, parlay or a combination of bets in October amounted to $117.09 million.
Here’s a comparison of the sports bets according to the percentage:
- Football: 33.4%
- Parlays: 21.1%
- Basketball: 11.4%
- NCAA Football: 9.3%
- Baseball: 6.9%
- Tennis: 5.9%
- Soccer: 3.5%
- Hockey-Ice: 2.9%
- Other: 2.8%
- Table Tennis: 2.0%
- MMA: 0.5%
- Golf: 0.3%
Fanatics Sportsbook is the last to enter Colorado
After completing the acquisition of PointBet in August, Fanatics set its eyes on entering Colorado.
As announced last week, the sports betting subsidiary of Fanatics Holdings Inc., Fanatics Betting and Gaming, expanded its reach into Colorado. Colorado marks Fanatics’ eighth US state.
The Fanatics brand replaced PointsBet in Colorado. Therefore, existing PointsBet members in Colorado can access the Fanatics Sportsbook using their old PointsBet credentials.
