- Colorado’s sports betting month-long totals nearly had records across the board.
- Professional and college basketball betting made up the majority of wagers made in Colorado.
DENVER – Colorado’s March 2022 sports betting numbers were just released, and they show the second-highest betting handle of all-time in the state.
Colorado Sees Near Record-Setting Month In Every Category
Sports betting revenue in Colorado was the third highest-grossing revenue month in the history of Colorado sports betting.
That is interesting because Colorado’s March 2022 hold percentage would have ranked fifth-lowest over the last twelve months.
In order to achieve such a high gross revenue despite a low hold rate indicates how much more popular legal sports betting in Colorado has become.
In particular, the March 2022 report outlines how important online betting is to sportsbooks in Colorado. Incredibly, 99.36% of all net revenue in Colorado was made by online or mobile sportsbooks in Colorado in March 2022.
March Madness And NBA Betting Carry Colorado Sportsbooks
A look at the breakdown by sport, and it is clear how important bets on basketball were to Colorado’s sports betting industry in March.
| Sport | Total Wagered | Percent Of Wagers | Return To Players | Percent Returned To Players |
|---|---|---|---|---|
| Professional Basketball | $218,351,428.11 | 43.19% | $212,590,080.33 | 97.36% |
| NCAA Basketball | $96,923,730.01 | 19.17% | $92,199,688.72 | 95.13% |
| Ice Hockey | $26,036,772.91 | 5.15% | $24,380,235.38 | 93.64% |
| Tennis | $23,434,520.48 | 4.63% | $21,635,433.03 | 92.32% |
| Soccer | $18,013,442.96 | 3.56% | $16,612,252.35 | 92.22% |
| Golf | $5,378,009.71 | 1.06% | $4,547,778.62 | 84.56% |
| MMA | $3,423,167.91 | 0.68% | $2,651,458.40 | 77.46% |
| Table Tennis | $1,339,773.11 | 0.26% | $1,251,153.63 | 93.39% |
| Motorsports | $887,765.22 | 0.18% | $779,072.60 | 87.76% |
| Baseball | $537,365.68 | 0.11% | $233,961.14 | 43.54% |
| Parlays | $99,717,961.09 | 19.72% | $89,843,112.88 | 90.10% |
| Other | $11,567,143.13 | 2.29% | $10,648,658.90 | 92.06% |
Bets on professional basketball, presumably the NBA, accounted for over 43% of all Colorado wagers. That does not include any professional basketball parlays, but it is still an incredibly high figure.
Of course, the most high-profile betting event in March is the NCAA’s March Madness Tournament was the reason for 19.17% of all bets to be placed on college basketball.
Outside of parlays, legal sportsbooks in Colorado made the most off bets on basketball. A look at the win percentage by sports gamblers in Colorado actually shows that bets on either professional or collegiate basketball offered the highest rate of return amongst all sports that were bet on in Colorado.
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News tags: Colorado | March Madness | NBA
Brett is a passionate sports writer who majored in Sport Management at Florida State University. He combines his knowledge of stats with his understanding of game theory to find the best values when sports betting. Brett enjoys golfing, playing cornhole, and hanging out by the pool when he’s not locked in watching games.
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