Colorado Lets the Good Times Roll With Record Revenue

Late on, Colorado became the seventh state in the post-PASPA era to surpass $10 billion in all-time sports wagering handle after the Department of Revenue reported more than $518 million worth of accepted bets for December. The Centennial State joins New Jersey, Nevada, Pennsylvania, Illinois, New York, and Indiana in that select circle, reaching the benchmark in 32 months of wagering. More than half of Colorado’s $10.2 billion handle — $5.18 billion — was generated in 2022, and 98% was generated via mobile wagering.

Additionally, there are special daily offers to check out. The Super Bowl takes place on Sunday, February 12, with sides, props, parlays, totals, quarters, halves, and in-game betting available. NBA, college basketball, and NHL regular seasons are coming in hot. Tennis, golf, boxing, auto racing, and MMA action are open.   It’s all underway and coming in hot, with action available now. This is the best time of year for sports betting activity in overdrive. There are daily specials for each day of the week, which is not to be missed. Go to BetRivers for these daily offers!

The handle was up 34.7% compared to 2021, and December’s figure was the fourth highest overall. It was the third straight month wagers totaled more than $500 million and the fifth time in state history, coming in 2022. The $518 million was 6.2% lower than November’s handle but 12.3% better than the $461.4 million generated in December 2021.

Operators posted a 7.9% win rate and reported $40.9 million in gross revenue for December, their second-best total in state history behind the $51.3 million from September during a historic rout nationwide. Gross income for the year was up 65.4% to nearly $352 million, as the 6.8% hold for 2022 was almost a third of a percentage point higher than the previous year.

Colorado levied taxes on $25.8 million in adjusted revenue for December, resulting in an inflow of $2.6 million to state coffers. The state received $19.7 million in tax receipts in 2022, $8 million more than in 2021, as the $188.9 million overall adjusted revenue for the year was 82.7% higher. Promotions and other deductions counted against 46.3% of the gross revenue compared to 58.7% in 2021, though a law that took effect at the start of the year should result in more tax revenue for the state going forward.

Pro football revenue was the only other sport to give sportsbooks an eight-figure revenue haul in December at more than $11.8 million, thanks to an 8.6% hold from $137 million in wagers. Although sportsbooks may not have gotten the bounce in handle from Russell Wilson coming to Broncos Country. Consider that the $589.6 million bet on pro football from September through December was only 2.8% higher than in 2021. But they certainly rode out with more revenue, as the $44.4 million claimed in those four months thanks to a 7.5% win rate was 36.2% higher year-over-year.

Now is the time to check out BetRivers for the latest bonus offers for all major sports. There are also DAILY SPECIALS to check every day of the week!