Colorado Sports Betting Revenue Soars by 28% in Aug 2024

October 3, 2024, 9:53 AM - Maxime L.

Colorado’s sports betting industry saw impressive growth in August 2024, with a 28.3% increase in revenue compared to the same month last year. According to the Colorado Division of Gaming, the state’s sportsbooks generated $33.2 million in revenue, fueled by a total handle of $372.4 million, which represents a 21.7% year-over-year increase. This surge underscores the continued momentum of the sports betting market, with online wagers making up nearly all of the action, as retail betting contributed just over $699,000.

The state’s tax revenues from sports betting also enjoyed a notable boost, rising 31.5% to $2.4 million compared to August 2023. On a month-over-month basis, the total handle increased by 16.2% from July 2024, while revenue saw a modest 2% bump.

Baseball was the clear favorite for bettors in Colorado during August, with over $103 million in wagers placed, followed by tennis, which garnered $39.3 million in bets. This pattern mirrors the nationwide popularity of major league sports during the summer months.

Colorado’s sports betting landscape continues to thrive, showing no signs of slowing down. As the industry matures, such strong growth figures signal increasing participation, largely driven by online betting, and a sustained appetite for sports wagering across the state.

Maxime L.

About the author

Maxime is a sports betting and content specialist at TrustnBet.com with a particular passion for basketball. A lifelong fan of the game, he closely follows the NBA, WNBA, and NCAAB, with a strong interest in team performance, player statistics, matchups, and betting markets. His basketball coverage focuses on the factors that can influence games and betting odds, from player form and injuries to team trends, schedules, and statistical matchups. He enjoys breaking down NBA and WNBA games as well as the intensity and unpredictability of college basketball. At TrustnBet, Maxime also works across sportsbook content, predictions, and odds-related resources. Outside of work, he enjoys playing basketball, watching sports documentaries, coding, and following the latest developments in digital content and SEO.