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Colorado releases sports betting revenue for March, up 103% from February

Updated:2024-03-30 09:14    Views:63

The Colorado Department of Revenue has released its sports betting monthly reports for March, covering both the total amount wagered and betting proceeds.

With total gross gaming revenue of $45.9m, this marks an increase of 103% from February 2023.

Online sports betting accounted for a large majority, with $45.7m collected through online operators and retail locations reporting $172,442.

In a physical location breakdown, Black Hawk Casino reported on-site proceeds of $154,223 and Cripple Creek $6,998.

This is a 219% and 196% increase respectively from February’s sports betting proceeds report.

The total net sports betting proceeds for March were reported to be $35.4m,Table games with a total of $3.1m to be paid in taxes to the state of Colorado.

Out of all the sports available in the state’s sports betting market, basketball proved to be the most popular, making up 58% of total bets and $287.3m in total wagers.

NCAA Basketball specifically contributed 19.1% and $94.3m towards this amount, with the 38% increase from February being reflected by the popular NCAA March Madness tournament, which started on 14 March.

Both ice hockey and tennis proved to be the next most popular sports, with 5.1% and $25m for each of the two sports.

In other recent news, The Colorado Limited Gaming Control Commission approved its first Responsible Gaming Grant a few weeks ago.