Colorado Sports Betting Revenue Hit Record $36.8 Million in November
Contents
Every month seems to see new heights for sports betting in the U.S. A large part of this can be attributed to the large number of sporting events going on at once. The biggest sporting league that draws in money, as you might imagine, is the NFL, which sees the playoff race start heating up in November, along with some highly-watched Thanksgiving matchups. And don’t forget about college football, pro and college basketball, and the NHL, which all bring in plenty of betting money for sportsbooks. Not only that, but a major amount of available sportsbooks, beyond your typical DratKings, FanDuel, and BetMGM, are slowly becoming available in states with legal sports betting. Well, one state saw a major betting handle recently, and yet another record has been broken. Let’s check out how November sports betting revenue in Colorado shattered its previous record.
November Sees Record Colorado Sports Betting Revenue
Colorado sports bettors might have stayed inside as the weather got chillier this winter, but the betting action was heating up. Legal Sports Report recently detailed that in November, sportsbooks in the Centennial State saw a total of $36.8 million in total revenue. The formerly established record set the month before was shattered by 28.5%. Interestingly, though, the total handle is down from month to month, from $491.5 million in October to $475.4 million in November.
Where Did the Money Flow in November?
As mentioned earlier, NFL is king. And that was definitely the case in November sports betting in Colorado, as the sport accounted for $140.3 million of the state’s handle. The NBA was also huge in the state, with $124.7 million bet on pro basketball in the month. College football, meanwhile, accounted for $29.4 million with $29 million bet on college basketball throughout the month. Parlays were a major focus for sports bettors in Colorado, with a total of $83.8 million in parlays placed. However, that doesn’t mean they won many parlays, as bettors only cashed in on $17.1 million on those bets for a 20.4% hold.
Colorado Has No Shortage of Sportsbooks
If you’re looking for a specific sportsbook while betting in Colorado, there’s a good chance you’ll find it. Colorado hosts all the biggest names in sports wagering, with DraftKings Sportsbook and FanDuel Sportsbook as major leaders. Not far behind are big books such as BetMGM, Caesars Sportsbook, and PointsBet. It would take quite some time to list off every single sportsbook in the state (WynnBET and BetFred, anyone?), but it’s safe to say that Colorado is now rivaling New Jersey in terms of available sports betting apps.
But the Centennial State also hosts some of the sports wagering platforms you might not find everywhere in the U.S. For example, Colorado is also home to TwinSpires (a sportsbook from Churchill Downs), MaximBet (a sportsbook from Maxim Group), and SI Sportsbook (started by Sports Illustrated). With so many wagering options, it’s no wonder that Colorado is seeing record revenue numbers.
