Player spending on sports betting in Colorado amounted to $281.1m (£224.7m/€261.8m) in July, the first time the state’s handle fell below $300.0m since August 2022.
Colorado’s betting handle was 8.9% higher than $258.4m in July 2022 but 9.5% behind $310.7m in June this year. July was also the fourth consecutive month of month-on-month betting handle decline for Colorado.
Online betting accounted for $279.4m of all wagers placed during the month. In contrast, just $1.7m was spent betting at retail sportsbooks in Colorado.
Baseball again drew the most bets, with players wagering a total of $104.9m during the month. Basketball was a distant second on $34.5m, then tennis at $33.9m. Players also spent $44.8m placing parlay bets in July.
Revenue rockets 171% month-on-month in Colorado
Gross gaming revenue from betting amounted to $25.0m in July. This was 20.2% ahead of $20.8m in July 2022 and 171.7% more than $9.2n in June this year.
Online revenue for the month in Colorado reached $24.8m, with retail revenue standing at $144,166.
Players won a total of $256.1m from sports betting in July. This included $254.6m in online winnings and a further $1.6m from retail wagers.
Colorado collected $1.8m in total sports betting tax – all of which came from online wagers.