When you sign-up through links on our site, we may earn an affiliate commission. Learn more >

Colorado Climbs to Another New Sports Wagering Record Month in January

Written by: Larry Gibbs
Updated October 14, 2022
8 min read
Colorado Another Sports Wagering Record
  • Colorado followed an excellent December with an even better record-breaking January
  • Online wagering was dominantly achieving an amazing 98% share and a $319.4 handle 
  • Basketball & football tops but incredibly “table tennis” provided almost $12m in bets

Although they’ve barely begun, Colorado is quickly making its way toward potentially being one of the US top five sports wagering states.

For the ninth consecutive month, Colorado bettors sent the industry in their state to record-handle-highs in January. They also passed the plateau over the $300 million marks for the first time. Overall, more than $1.5 billion in wagers has been placed in Colorado since the state initially legalized sports gambling last May according to the Colorado Department of Revenue’s Division of Gaming.

By the Numbers

It was reported last week that Colorado sportsbooks combined generated a record-$326.9 million in bets in January. The record month eclipsed December’s then-record handle of $284.6 million by an impressive 14.9% and crossed over the $300 million marks for the first time ever.

Most crucially for sportsbook operators, gross gaming revenues (GGR) for all Colorado sports wagering achieved a new record as well with $34.1 million in profits. The figure is substantially higher than a December of $17.1 million and beats the previous existing monthly record of $18.4 million in November 2020. Net betting revenue for January $11.7 million, also a large increase from $5.7 million back in November.

A major $1.2 million in tax contributions for Colorado state and local funding was accomplished in January. The figure more than doubled the amount in December of $531,489. A 125% increase according to the Department of Gaming.

Online is the Rocky Mountain Way

Echoing other United States sports wagering reports including New Jersey, Pennsylvania and Illinois, mobile wagering is dominant in Colorado. Beyond COVID-19’s obvious effect, online wagering seems apparent to be a continuing trend into the future.

It was apparent as any other state in January where Colorado racked up an incredible $319.4 million online of their $329.8 total sports wagering handle. That is an unofficial record of a 98% portion coming from mobile betting apps and a whopping 13.9% increase in only one month from December. Online revenues were set at $22.7 for the month of January.

Colorado retail (onsite) wagering outlets, including many which are located in remote Rocky Mountain locations, did contribute a nice $7.5 million to the state’s overall total. The figure was up from $4.1 in December but is still quite small compared to online sports wagering dominance in the state.

Basketball is Best

Breaking down individual sports NBA basketball led the way in January, providing $88.3 million of the month’s total handle. Reduced to strictly playoff action, NFL football was next with $75 million in bets. That could be potentially reversed in February with the Super Bowl accounting for a large amount of play.

Following those came NCAA college basketball producing $39.9 million but the shocker among the rest was “table tennis” accounting for a stunning $11.8 million in Colorado wagering during January. Thus far table tennis seems to be a local betting favorite that began when the state legalized wagering and has remained on board since.

Colorado’s Rapid Progress

In terms of comparison, Colorado is now ranked the sixth-largest in the US, losing its fifth spot last month to newcomer Illinois, who recorded a $348 handle in January. These placements are relative due to market size and often involve state adjudicated wagering policies.

Looking at their continued progress, it is safe to assume that Colorado will remain among the top state markets for sports wagering handle and revenue. February’s numbers are expected to be excellent and then March even better with “March Madness” of the NCAA College Basketball Tournament included.

Image for Larry Gibbs

AUTHOR

Larry Gibbs

250 Articles

Larry Gibbs is both a seasoned journalist and a respected online gaming industry consultant. His wry commentary & sharp analysis have appeared in numerous top gaming and sports wagering publications. He has also served as Vice President of US Gaming Services, a marketing research organization with 15 years of experience in US online wagering. He has spoken at noted gaming industry conferences including G2E, GiGSE, and NCLGS.

Email: [email protected]

More info on Larry Gibbs
We've been featured on:
espn logo
reuters logo
cbs-news logo
forbes logo
entrepreneur logo
entrepreneur logo
We only list licensed sportsbooks
WorldSportsNetwork
WorldSportsNetwork
WorldSportsNetwork
WorldSportsNetwork

© Rebel Penguin ApS 2024 (a subsidiary of Gaming Innovation Group Inc.)

We support responsible gambling. 21+ Only. Gambling problem? Call 1-800-Gambler.

WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.

Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.