Colorado Produces Best Sports Betting Month Since January During September

James Bisson

Last Updated: November 12, 2023 4:03 PM EST • 1 min 50 sec read. Twitter link Google News Link

The return of NFL action for the broad U.S. legal sports betting industry has been well documented, and it's been benefitting the best sports betting apps. We can officially add Colorado to the list of states that experienced a major wagering surge among Colorado sports betting apps and the state's retail sector in September.

The Colorado Division of Gaming September earnings report is out, and it revealed jumps in both year-over-year and month-over-month sports wagering handles. Revenues for the Colorado sports betting scene in September were also impressive and came in as the third-best profits month for Colorado in its 41 months of operation.

September’s numbers are a good sign of things to come. The state didn’t hit the $500 million mark until October in 2022, the first of four straight half-billion handle months.

$512.8 million handle for Colorado in September

Colorado bettors welcomed the NFL back and also showed huge support for Deion Sanders’ Colorado Buffaloes during the September sports betting period.

Sports bettors in the state helped Colorado's best sportsbooks, which offer Colorado sportsbook promos, to eclipse the $500-million mark again with a total of $512.8 million in wagers. That represents a 67.5% month-over-month increase from $306 million in August and also a 13.9% improvement from September 2022.

The sports breakdown is as follows:

Football – NFL: $157 million
Baseball: $78 million
NCAA Football: $70 million
Tennis: $30 million
Basketball: $24 million
Soccer: $20 million
Table tennis: $13 million
MMA: $4 million
Golf: $2 million
Hockey – Ice: $2 million

September was just the second month in 2023 when Colorado sportsbooks have taken in more than $500 million, and the seventh time overall the Colorado sports betting scene and its betting sites have reached that number.

September's Colorado sports betting figures added to the year-to-date handle total, bringing it to $3.68 billion. That number is up 2.7% from the same nine-month period in 2022.

Revenues third-best ever

Revenue numbers for the Centennial State sports betting industry and its best sportsbooks were the third-best ever in September thanks to the handle surge.

Colorado sports betting apps and its retail providers reported $45.3 million in revenues during the month. That's up substantially from nearly $25.9 million in August, but down from September 2022 when $51.34 million was made by state sportsbooks. The $45.9 million in March was the only better month than September 2023.

September took the year-to-date revenue haul for Colorado sports betting providers to $275.9 million, a 16.4% improvement from the same nine-month period last year.

Sportsbooks in the state held 8.8%, the third-best win rate over the last 12 months. However, that's still underwhelming when compared to other top U.S. legal sports betting jurisdictions.

The $32.5 million in taxable revenue led to $3.1 million in tax contributions for Centennial State coffers. So far this year, Colorado sportsbooks have contributed $18.9 million in taxes, up more than $6.7 million from the same period last year.

Written By:
James Bisson

James Bisson is the Editor-in-Chief of Sportsbook Review. He has been a writer, reporter and editor for more than 20 years, including a nine-year stint with The Canadian Press and more than five years at theScore. He has covered dozens of marquee events including the 2010 Winter Olympics, the 2006 Stanley Cup final and Wrestlemania 23, and his work has appeared in more than 200 publications, including the Los Angeles Times, the Guardian, Yahoo! Sports, the Toronto Star and The Globe and Mail. His book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008 and earned him appearances on CBC Radio and Canada AM. He has written more than 50 sportsbook reviews, more than 200 industry news articles and dozens of other sportsbook-related content articles. A graduate of the broadcast journalism program at Ryerson University (now Toronto Metropolitan University), James has been an avid bettor since the early 2000s, and cites bet365 as his favorite sports betting site due to its superior functionality and quick payouts. His favorite piece of sports betting advice: "Stay in your lane. You're much more likely to have success betting sports you know, and focusing on finding angles and edges there."