Nuggets NBA Championship Cost Colorado Sportsbooks $10.8M

The Denver Nuggets NBA Championship cost Colorado sportsbooks $10.84 million in June 2023.
Colorado betting operators paid players $68.7 million on $57.9 million worth of wagers.
Colorado’s total June sports betting revenue was roughly $9 million, much lower than April and May revenues of over $30 million each.

DENVER – Colorado sportsbooks lost nearly $11 million on basketball betting in June when the Denver Nuggets won the NBA Championship. Retail sportsbooks in Colorado saw a -27.6% total win percentage in the month of June.

Despite a decreased legal NBA betting site handle from $124 million in May to $57.9 million in June, Colorado sportsbooks suffered large losses compared to previous months. Data from April and May support the idea that Denver Nuggets bettors are responsible for the negative revenue.

Colorado Sports Betting Revenue on Basketball

Month:	Handle:	Payments to Players:	Revenue:
June	$57,938,190.28	$68,777,926.41	-$10,839,736.13
May	$124,096,275.82	$119,046,246.63	+$5,050,029.19
April	$136,622,091.29	$130,546,675.02	+$6,075,416.27

Colorado’s sports betting monthly report for June 2023 shows a -$10,839,736 total revenue.

A similar revenue loss occurred in Nevada after the Vegas Golden Knights won the Stanley Cup. Revenue reports showed legal sportsbooks in Nevada lost $6.6 million from local Golden Knights fans.

June was the worst Colorado sports betting month of the year, finishing below a 3% total win percentage. Based on the sports betting revenue tracker, June’s total win percentage fell well below their monthly average of 7.5%.

Colorado Total Win Percentage by Month

Month:	Total Win Percentage:
June	2.97%
May	8.15%
April	8.41%
March	9.29%

Basketball and hockey were the only sports that Colorado lost money on, with baseball, soccer, and tennis reeling in over $6 million in taxable revenue for the Centennial State.

Colorado bettors placed over $100 million worth of legal sports betting wagers on baseball in the month of June, with sportsbook operators winning roughly $4.5 million.

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Zachary Kelley

Zach graduated from Florida State University with a degree in Writing, Editing, and Media. Zach is interested in the legalization aspect of sports betting and enjoys participating in DFS. He has a passion for sports writing and most enjoys writing about football and baseball both professional and collegiate.