Colorado sports betting handle jumps 68% year-on-year in March

The total amount spent during the month was comfortably ahead of the $301.0m that was bet in March 2021 and also 14.8% higher than the $440.5m wagered by players in February of this year.

Players spent $500.2m betting on sports online, while the remaining $5.4m was wagered at retail sportsbooks.

Gross gaming revenue increased 38.2% year-on-year to $28.2m, while this amount was also 43.9% up from $19.6m in February 2022.

Of this total, $28.1m was attributed to online sports betting, while just $179,235 came from wagering at retail sportsbook facilities.

Basketball was by far the most popular sport to wager on in Colorado in March, with a total of $218.4m bet by players. College basketball followed with $96.9m in wagers, due to the annual NCAA Tournament, while parlay and combination bets came to $99.7m.

Players won $477.4m from sports betting during the month, while the state of Colorado was able to generate $1.3m in tax revenue.