Colorado’s first half sports betting handle reaches $229m

Sports Betting

Sports betting in Colorado last month fell to an eight-month low as the Denver Nuggets and Colorado Avalanche were eliminated from the playoffs early in the month, the Colorado Division of Gaming reported Tuesday.

Colorado’s online and retail sportsbooks took in a combined $229.8 million in wagers in June, including $227.1 million in online wagering. June’s handle was down 7.7% from $249.0 million in May as bettors poured in $7.7 million per day over the 30 days of June. In May, bettors placed $8.0 million in wagers per day.

Year-over-year, wagers in June were up from $38.1 million in June 2020, a month still hampered by the pandemic-related shutdown of most major sports.

The decline in wagering didn’t stop gross gaming revenue from rising 30.2% to $19.7 million in June from $15.2 million in May. After promotional credits, net sports betting proceeds came in at $11.7 million, yielding $1.2 million in tax revenue, the second-highest ever for the state.