Colorado Sports Betting Revenue Soars by 28% in August 2024
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.
