Colorado Gambling Industry Reports Steady Growth of 103%
Expertise: Online casinos, Game tester
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Colorado’s sports betting monthly report has been published by the Colorado Department of Revenue, and it includes details of the amount that has been bet and the profits recorded.
Gross gaming revenue for the state was $45.9 million, an increase of 103% from February last year. An impressive $45.7 million was bet at online bookmakers, and a further $172,442 was bet at land bookies.
Looking at individual venues, Black Hawk Casino reported proceeds of $154,223 and Cripple Creek $6,998. This represents an increase of 219% and 196%, respectively, from February’s sports betting proceeds report.
In March, sports betting proceeds grew to $35.4 million, and a total of $3.1 million was paid to the state in taxes.
Basketball appears to be Coloradoans’ favorite sport to bet on. It accounted for 58% or $287.3 million of all bets. Looking at the specifics, NCAA Basketball contributed 19.5% or $4.3 million, and there was a significant increase in betting action during March Madness.
Following basketball, ice hockey, and tennis are the next most popular sports, each with 5.1%, or $25 million, or bets.
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