Colorado sportsbook stakes continue growth in November
| By Robin Harrison
Colorado’s regulated sports betting market continued its upward trajectory into November, with amounts wagered growing 9.7% month-over-month to $231.2m.
After players won back $212.9m – up from $193.3m in October – gross revenue for November was up 5.5% at $18.4m.
After adjustments such as bonus promotions and the 0.25% federal excise tax on betting handle, net sports betting proceeds (revenue) actually fell month-over-month, dropping 6.9% to $9.0m. This resulted in total taxes of $793,820.04 for the state.
Online dominated the market, accounting for $226.9m – or 98.1% – of handle, and $17.6m (or 96.2%) of GGR.
In a month in which the National Football League was in action, professional football was the most popular sport by far, accounting for $88.4m of amounts wagered.