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Colorado’s monthly sports betting wagers, revenue up again

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Colorado’s sports betting industry continues to grow despite the COVID-19 pandemic, according to figures released Tuesday by the Colorado Department of Revenue’s Division of Gaming.

In November, Colorado’s retail and online sports betting wagers a record total of over $2.31 million, a 9.7% increase from October, according to the report. Revenue from betting reached over $18.35 million, up 5.5% from October.

November also saw $793,820 in taxes collected from sports betting operators.

“The positive response by Coloradans to sports betting continues to bring voter intended results that mean good things to come for the beneficiaries,” said Dan Hartman, director of the Colorado Division of Gaming.

Sports betting revenue, taxes continue to rise in Colorado

Mobile betting made up 98.1% of bets in November, according to a Gambling.com report. Mobile sports betting was up 9.9% from October.

“November was a strong month for sports betting in Colorado,” said Max Bichsel with Gambling.com.

“The excitement around the return of the NBA, the remainder of the NFL season and college basketball should get Colorado past the $250 million mark in handle.”

Compared to September, October also experienced sports betting increases in total money wagered, generated revenue and taxes collected, according to a Gambling.com report.

In November, Colorado’s top sport for betting was American Pro Football with $88.4 million in wagers placed.

That was followed by National Collegiate Athletic Association (NCAA) Football with $22.2 million and table tennis with $12.4 million. Professional basketball and NCAA basketball had $9.6 million and $8.2 million in wagers respectively.

The full November report is available at colorado.gov.



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