Colorado smashes monthly betting handle as $716.4m wagered in December

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The December handle beat the existing record of $608.5m in November 2023 by 17.7%. It was also 38.3% higher than the $518.1m bet in Colorado in December of the previous year.

Some $712.0m of all wagers placed in December were via the internet. Retail venues took just $4.5m in bets in comparison.

Revenue down year-on-year 

As for gross gaming revenue, this amounted to $40.5m for December, 41.6% more than the $28.6m generated in November.

colorado’s december gross gaming revenue was 41.6% higher than the previous month

However, despite taking far more bets than in December 2022, this was not reflected in year-on-year revenue comparison. Revenue was actually 0.1% less than the $40.9m in the previous year.

Online wagering accounted for almost all monthly revenue, with retail’s contribution at just $63,546.

As the National Football League season neared its conclusion, American football was again the most popular sport to bet on. Players placed $193.1m during the month.

Basketball drew $171.4m in bets and college football $45.8m. Parlay and combinations in the month totalled $204.2m.

As for tax, this amounted to $3.7m during December, while players won $675.9m, including $671.5m online.

Colorado welcomes newcomers

December saw the launch of another sportsbook in Colorado in the form of Fanatics. The operator replaced PointsBet in the state following its acquisition of the latter’s US business.

Also set to launch in Colorado is Betr. The microbetting operator this month secured market access deals in Colorado, Pennsylvania and Kentucky.

Betr’s online sportsbook agreement in Colorado is with Boulter Developments. However, this hinges on licence approval from the Colorado Division of Gaming. 

Additionally, Boulter Developments has taken an equity interest in Betr.

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