Sportsbooks in Colorado Generate Highest Revenue Month Yet

• November saw Colorado sportsbooks generate $36.7 million in revenue.
• October remains Colorado’s highest monthly sports betting handle at $475.4 million.
• The Colorado sports betting industry resulted in $10 million worth of taxes in 2021.

DENVER, Co. – Colorado sports betting broke a record high in November after pulling almost $36.8 million in revenue.

Record-High Revenue

November marked the second month in a row where Colorado sportsbooks generated a record-high revenue pull.

Although October maintains the highest sports betting handle so far, the revenue for November is a 28.5% increase from October.

This is a 100.3% increase year-over-year from the $18.3 million in revenue generated in November 2020.

Monthly Revenue Comparison

• November 2021 revenue: $36,781,848
• October 2021 revenue: $28,616,708
• November 2020 revenue: $18,354,655

As for Colorado’s monthly sports betting handle, although November didn’t set a new record, it was the second highest recorded handle so far, but below October’s handle

Colorado residents wagered over $475.4 million on sports in November, a slight decrease from October’s $491.4 million handle.

All three of Colorado’s biggest reported sports betting handles were in the last months of 2021’s fiscal year, with just under $1 billion being wagered in the last two months alone.

Top Three Sportsbook Handles:

1. October 2021: $491,453,342
2. November 2021: $475,441,229
3. September 2021: $408,314,625

Tax Contribution

Since January 2021, Colorado sports betting has reportedly contributed $10,930,531 to the state government in taxes.

While November was obviously the biggest contributor to this with a $1.9 million tax payout, a few other months also contributed over a million in taxes.

Months With A 1+ Million Tax Contribution In 2021

• January: $1,195,774
• March: $1,060,854
• April: $1,082,611
• June: $1,186,455
• October: $1,246,804
• November: $1,981,640

Legal sportsbooks in Colorado have handled $4.5 billion in sports wagers since their May 2020 launch. Early 2022 will see Colorado residents break the gross total $5 billion sports betting handle threshold for the first time.

News tags: Colorado | Revenue