Colorado Sports Betting Jumps 16% Compared to Last Month

The Colorado Division of Gaming, the regulators of the states gambling industry reported that March saw a decline of revenues to $494.4 million or 2.2% compared to the same month in 2022, which stood at $505.6 million but it is a rise compared to the previous month of 16.3%.

Breaking down the figures sports books reported that basketball was the most popular sport gambling were betting on with $139 million, while the March Madness NCAA saw bets totalling $94.3 million. Behind Basketball by some way were Ice Hockey and Tennis both gaining $25 million in bets each.

Taxes collected from sports betting stood at $3.1 million for the month which is a huge 146.7% increase from the month before, in full all taxes collected for 2023 to $20.3 million which is a rise of 120% compared to the same period in 2022.