Gamblers spent $554.9 million on sports betting in Colorado in the month of October. Thus, online betting represented more than US$500 million of this total.
Betting volume in Colorado was up 5.4%, up from $526.6 million in October 2022.
Therefore, the monthly total was 8.2% higher than US$512.8 million in September this year.
Of the total amount wagered, $550.4 million was spent online and $4.4 million on retail sports betting across the US state.
When it comes to gross gaming revenue, Colorado operators generated $46.9 million in October.
In other words, 28.5% higher than last year’s US$36.5 million and also 3.5% higher than September’s total of US$45.3 million.
Online betting generated revenue of $47 million, but a $90,005 retail loss pushed the total value down slightly.
Modalities that received the most sports bets in Colorado
Football attracted the most sports betting in Colorado, with players betting $185.2 million online and at retail.
Basketball followed with $63.4 million, then college football with $51.8 million.
Other top sports in Colorado include baseball with $38.3 million in betting and tennis with $32.9 million.
Additionally, parlay bets for October totaled $118.1 million.
Consumers won a total of $507.9 million on bets, while the state collected $3.4 million in taxes.
Fanatics Enter Colorado Market
The monthly numbers come as Colorado gamblers prepare to start betting on a new brand online.
The Fanatics Betting and Gaming (FBG) arm of Fanatics Holdings has launched its sports betting brand in Colorado. This is part of the acquisition of PointsBet US, with the brand replacing PointsBet in the state.
Any open bets, balances and responsible gaming settings will also be transferred to Fanatics Sportsbook.
Fanatics Sportsbook is now available in nine US states, with the latest launch coming this week in Connecticut.
